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ON MONDAY

On the U.S. economic calendar, the Commerce Department is expected to report that monthly factory orders likely fell 0.3% in November after rising 0.2% in October. Separately, S&P Global's final reading of the Services and Composite PMI for December will also be on the radar.

Federal Reserve Board Governor Lisa Cook is scheduled to speak on "Economic Outlook and Financial Stability" before the Seventh Conference on Law and Macroeconomics hosted by the University of Michigan Law School. (0915/1415)

On the Latin American economic front, Brazil’s S&P Global Services and Composite PMI numbers for December are on the radar. Separately, the country is forecast to post a trade surplus of $4.20 billion in December, down from a surplus of $7.03 billion in the previous month.

REST OF THE WEEK

The Federal Open Market Committee issues minutes from its December 17-18 meeting on Wednesday.A raft of economic data is scheduled for release in the week ahead in the U.S. The Labor Department’s much-awaited monthly employment report for December will be on investors’ radar on Friday. Non-farm payrolls are expected to increase by 160,000, after rising by 227,000 in November. The unemployment rate is likely to remain unchanged at 4.2% in December. Meanwhile, private payrolls probably climbed 134,000, following a 194,000 rise in November. Average earnings in the month are likely to have inched up 0.3%, after gaining 0.4% in the previous month. Annually, average earnings are forecast to rise 4.0%. The average workweek hours are likely to remain unchanged at 34.3 hours. Separately, the latest ADP National Employment Report is likely to show private payrolls dropped to 139,000 jobs in December from 146,000 jobs in the previous month on Wednesday. Meanwhile on the same day, the U.S. Federal Reserve’s data on consumer credit is expected to rise to $12 billion in November, after adding $19.24 billion in the month before. On Tuesday, Institute of Supply Management’s (ISM) non-manufacturing PMI for December is projected to show a reading of 53.0, compared to a reading of 52.1 for November. Separately, the U.S. Commerce Department is expected to report that the country's international trade deficit widened to $78.0 billion in November from $73.8 billion in October. The Labor Department is scheduled to release its jobless claims report. In a separate report, initial jobless claims data for the week ending January 4 and the continued jobless claims data for the week ended December 28 will be on the radar on Thursday.

On Tuesday, Federal Reserve Bank of Richmond President Thomas Barkin is likely to speak before the Greater Raleigh Chamber Economic Forecast: Launch 2025. Separately, on Thursday, Barkin is scheduled to speak before the Virginia Bankers Association/Virginia Chamber of Commerce Financial Forecast. Meanwhile, on the same day Federal Reserve Board Governor Michelle Bowman is likely to speak on "Reflections on 2024: Monetary Policy, Economic Performance, and Lessons for Banking Regulation" before the California Bankers Association 2025 Bank Presidents Seminar. On Wednesday, Federal Reserve Board Governor Christopher Waller is scheduled to speak on the economic outlook before a Lectures of the Governor event hosted by the Organisation for Economic Co-operation and Development (OECD). Separately, on Thursday, Federal Reserve Bank of Philadelphia President Patrick Harker is slated to speak on "Right Now, It's Putting One Foot in Front of the Other" before the National Association of Corporate Directors New Jersey Chapter Economic Forecast 2025. In a separate event on the same day, Federal Reserve Bank of Kansas City President Jeffrey Schmid will speak on the economic and monetary policy outlook before the Economic Club of Kansas City.

On Friday, U.S. Supreme Court hears oral arguments in a bid by TikTok and its China-based parent company, ByteDance, to block a law intended to force the sale of the short-video app by Jan. 19 or face a ban on national security grounds.

Walgreens is expected to report first quarter results before markets open on Friday. Investors are expected to look out for any announcements on a potential deal to go private. Investors are also expected to focus on the company's full year earnings forecast.

On Thursday, a judge is scheduled to hold a status conference in the U.S. Department of Justice's antitrust case against Google over online search.

Exxon Mobil releases a snapshot of changes in oil and gas prices, refining and chemical margins that affected its businesses in the fourth quarter on Tuesday, comparing changes during the period to operating results in the prior quarter. Separately, on the same day, Hess Corp CEO John Hess will address the Goldman Sachs Energy, CleanTech and Utilities Conference in Miami.

On the Canadian front, the country’s trade balance for November is due on Tuesday. Separately on Friday, Canada’s Building permit and unemployment rate data will be on the radar.

In Latin America, Brazil’s inflation as measured by the IGP-DI price index for December is expected on Tuesday. Additionally, the nation's IPC-FIPE inflation index for December is also on the radar on the same day, while industrial output figures for November are due on Wednesday. The country’s retail sales data for November is set for release on Thursday. Separately, on the same day, Mexico’s headline inflation for December is expected to have risen 0.50% month-on-month and 4.35% year-on-year, while core inflation likely increased 0.42% month-on-month and 3.56% year-on-year. Meanwhile, the country’s industrial output data for November will be on the radar on Friday.

(Compiled by Kumar Satyam; Editing by Shreya Biswas)

((Kumar.Satyam@thomsonreuters.com;))