As traders approach another pivotal day for the financial markets on Thursday, December 26, 2024, a raft of crucial economic data is expected that could impact market dynamics. The spotlight will be on the first report on unemployment benefits, which serves as a key indicator of the health of the labor market. In addition, the auction of seven-year bonds will provide insight into investor interest in US government bonds.
Major economic events to watch
• 8:30 a.m. ET – Initial unemployment claims: Expected 223,000, previously 220,000. Measures new claims for unemployment insurance and identifies trends in the labor market.
Other major economic events to watch
• 8:30 AM ET – Continuing unemployment claims: Previous 1,874K. Tracks ongoing claims for unemployment benefits.
• 1:00 PM ET – 7-year bond auction: previous yield 4.183%. Measures investor demand for medium-term US government bonds.
• 4:30 PM ET – API weekly crude inventory: previous -4,700 million. Provides insight into US oil supplies and oil demand.
• 4:30 PM ET – Fed balance sheet: previous 6.889 billion. Makes public the assets and liabilities of the Federal Reserve.
• 4:30 PM ET – Reserve balances at the Federal Reserve: Previous 3,237T. Shows the account balances of depository institutions at regional Fed banks.
Other economic events to watch
• 7:00 AM ET – MBA Buying Index: Previous 157.1. Indicates the mortgage application volume for home purchases.
• 7:00 AM ET – Mortgage Refinancing Index: Previously 617.5. Measure mortgage refinancing activity.
• 7:00 AM ET – Mortgage Market Index: Previous 224.0. Covers all mortgage applications during the week.
• 7:00 AM ET – MBA 30-year mortgage rate: Previously 6.75%. Reports fixed interest rates for 30-year mortgages.
• 7:00 AM ET – MBA Mortgage Applications: Previously -0.7%. Shows the change in the number of new mortgage applications.
• 8:30 ET – Jobless claims 4-week average: Previous 225.50K. Smooths out weekly unemployment claims data.
• 11:00 ET – US M2 money supply: previous 23.31T. Measures the broad supply of money in the US economy.
• 11:30 AM ET – 4-week exchange auction: previous yield 4,230%. Indicates the government’s short-term borrowing costs.
• 11:30 AM ET – 8-week exchange auction: previous yield 4,230%. Reflects investor demand for short-term government bonds.
For more information and the latest updates, please consult our Economic Calendar here.
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