This Week's Chart, Next Week's Markets

Japanese growth, U.S. ADP and [no data], German inflation and Chinese demand

Well, how about that to confound the narrative of a declining superpower with an educational system in shambles and a population addicted to Netflix?

As America’s politicians digest the results of this week’s elections, Republicans may conclude they need to make a deal to reopen the government, and Democrats may decide they can compromise their demands, given what seems to be a burst of political momentum. More likely than not, however, investors will face yet another week of data drought and will have to rely on scraps of insight from corporate earnings announcements and anecdotal headlines in the New York Times.

Otherwise, watch for:

Monday: Japan will report its Coincident and Leading Economic Indices for September, with some hopes for an industrial rebound that will signal a bounce from the August low.

Tuesday: In the absence of U.S. official data, the ADP employment report seems likely to confirm the weakening job market.

Wednesday: Inflation numbers from Germany may signal persistent inflation that forces the European Central Bank to react at its next meeting.

Friday: Chinese industrial production and retail sales data may reflect an economy that continues to slow as exports face headwinds and domestic sentiment remains weak.