Monthly Manufacturing, Jobless Figures Due

Investors will be looking at post-holiday economic data this week, including an expected increase in November manufacturing output and unemployment numbers.

But caveats abound, the biggest involving the sharp run-up in the three major market gauges since they touched five-year lows in early October, especially the surge in the technology-rich Nasdaq.

A conference call with analysts by Finland’s mobile phone maker Nokia Corp. and a Credit Suisse First Boston annual technology conference on technology stocks in Scottsdale, Ariz., could provide news this week to take the wind out of tech stocks.

Nokia, whose shares have surged 83% since touching an almost four-year intra-day low of $10.51 on July 24, will discuss the company’s prospects for 2003 with analysts in New York on Tuesday.

The CSFB conference that starts today and ends Thursday also could provide companies an outlet to make announcements, which could give investors an excuse to sell.

The conference, which features 100 companies, is expected to draw top executives from Dell Computer Corp., Microsoft Corp. and Veritas Software Corp.

A sign of what the Federal Reserve has called a “soft spot” in recent economic growth may be seen in the release of U.S. manufacturing data today.

Economists, on average, expect the Institute for Supply Management’s manufacturing index to pop up to 51.3 in November from 48.5 in October -- the first time since August that the survey has come in above the critical 50 level that signals growth.

Meanwhile, the Labor Department is expected to report Friday that employment increased by 30,000 in November after 18,000 jobs were lost in the previous two months, putting the unemployment rate at 5.8%.

Other economic reports this week:

* Today, the Commerce Department will report on October construction spending.

* Wednesday, the Labor Department will report on third-quarter productivity.

The Commerce Department will report on October factory orders.