As traders approach another pivotal day for the financial markets, Tuesday, December 17, 2024, will release a batch of crucial economic data that could impact market dynamics. The spotlight is on retail sales figures and industrial production data, which are expected to provide insights into consumer spending patterns and the health of the manufacturing sector, respectively.
Major economic events to watch
• 8:30 a.m. ET – Retail sales (November): expected 0.6%, previously 0.4%. An important indicator of consumer spending and overall economic activity.
• 8:30 a.m. ET – Core retail sales (November): forecast 0.4%, up from 0.1% previously. Measures non-auto retail sales and provides a focused view of consumer trends.
• 9:15 AM ET – Industrial production (November): expected 0.2%, previously -0.3%. Reflects changes in the total inflation-adjusted value of output in different sectors.
Other major economic events to watch
• 8:30 a.m. ET – Retail Check (November): Previous -0.1%. A component of retail sales used to calculate GDP.
• 10:00 AM ET – Corporate Stocks (October): Expected 0.2%, previously 0.1%. Indicates changes in the value of unsold goods owned by companies.
• 1:00 PM ET – 20-year bond auction: previous yield 4.680%. Provides insight into government debt and investor sentiment.
• 1:00 PM ET – Atlanta Fed GDPNow: forecast 3.3%, up from 3.3% previously. Provides a running estimate of real GDP growth for the current quarter.
• 4:30 PM ET – API weekly crude inventory: previous 0.499 million. Provides an overview of U.S. petroleum demand and inventory levels.
Other economic events to watch
• 8:30 a.m. ET – Retail sales excluding gasoline/auto (November): expected 0.4%, previously 0.1%. Shows underlying retail demand patterns.
• 8:55 AM ET – Redbook (annualized): Previous 4.2%. Measures same-store sales growth at major U.S. general merchandise retailers.
• 9:15 AM ET – Manufacturing Production (November): Previously -0.5%. Indicates changes in production output.
• 9:15 AM ET – Capacity utilization rate (November): forecast 77.3%, previously 77.1%. Reflects overall economic growth and demand.
• 10:00 AM ET – NAHB Housing Market Index (December): Expected 47, previous 46. Assesses the level of current and future sales of single-family homes.
For more information and the latest updates, please consult our Economic Calendar here.
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