Wednesday: GDP, FOMC Announcement, ADP Employment

• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 8:15 AM, The ADP Employment Report for October. This report is for private payrolls only (no government).  The consensus is for 139,000 jobs added, up from 135,000 in September.

• At 8:30 AM, Gross Domestic Product, 3rd quarter 2019 (advance estimate). The consensus is that real GDP increased 1.7% annualized in Q3, down from 2.0% in Q2.

• At 2:00 PM, FOMC Meeting Announcement. The Fed is expected to lower the Fed Funds rate 25bps at this meeting..

• At 2:30 PM, Fed Chair Jerome Powell holds a press briefing following the FOMC announcement.

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