Sobering Numbers, Rate Cut Expected

A crowded economic calendar this week will keep Wall Street on its toes. And the corporate profit warnings season goes into full swing.

Today the National Assn. of Purchasing Management is expected to report that the U.S. manufacturing sector slowed in September. Car and truck sales for the month, also to be reported today, are likely to be soft.

On Friday, the unemployment report for September is expected to paint a bleak picture for the world’s largest economy--showing the number of jobless Americans still at a four-year high of 4.9%.

All eyes will be on Tuesday’s meeting of the Federal Reserve’s policymakers, who are expected to cut interest rates for a ninth time this year to prop up the economy.

Other economic reports this week:

* Today, the Commerce Department will report on personal spending and income for August.

* Today, the Commerce Department also will report on construction spending during August.

* Thursday, the Labor Department will report on new applications for unemployment benefits in the week ended Sept. 29.

* Thursday, the Commerce Department will report on factory orders in August.