As traders approach another pivotal day for the financial markets, a set of crucial economic data is expected on Thursday, October 24, 2024 that could impact market dynamics. permits and new home sales figures, all of which have the potential to influence investor sentiment and the direction of the market.
Major economic events to watch
• 8:30 AM ET: Initial Unemployment Claims (Forecast: 243K, Previous: 241K) – A weekly measure of initial unemployment benefit claims.
• 8:30 a.m. ET: Construction Permits (forecast: 1.428 million, previous: 1.470 million) – An indicator of future construction activity.
• 9:45 a.m. ET: Manufacturing PMI (forecast: 47.5, previous: 47.3) – A gauge of activity in the manufacturing sector.
• 9:45 a.m. ET: Services PMI (Forecast: 55.0, Previous: 55.2) – An assessment of the performance of the services sector.
• 10:00 AM ET: New Home Sales (Forecast: 719K, Previous: 716K) – A benchmark for new single-family home sales.
Other major economic events to watch
• 8:30 AM ET: Continuing Unemployment Claims (Forecast: 1,880,000, Previous: 1,867,000) – Tracks ongoing unemployment benefit claims.
• 8:30 a.m. ET: Construction Permits (Forecast: -2.9%, Previous: 4.6%) – Month-over-month percentage change in construction permits issued.
• 9:45 a.m. ET: S&P Global Composite PMI (previous: 54.0) – A comprehensive measure of overall economic activity.
• 10:00 AM ET: New Home Sales (Previous: -4.7%) – Month-over-month percentage change in new home sales.
• 1:00 PM ET: 5-Year TIP Auction (previous: 2,050%) – Results of the inflation-protected government bond auction.
• 4:30 PM ET: Fed Balance Sheet (previous: 7.039B) – Weekly update of Federal Reserve assets and liabilities.
• 4:30 PM ET: Reserve Balances at Federal Reserve Banks (Previous: 3,229T) – The account balances of depository institutions at the Fed.
Other economic events to watch
• 6:00 a.m. ET: IMF Meetings – Annual meeting of global financial leaders to discuss economic issues.
• 8:30 a.m. ET: Chicago Fed National Activity (Prev: 0.12) – A monthly index that tracks economic activity in the Chicago Fed district.
• 8:30 a.m. ET: Jobless Claims 4 Weeks Avg. (Previous: 236.25K) – A smoother measure of unemployment claims trends.
• 10:30 AM ET: Natural Gas Storage (Forecast: 61B, Previous: 76B) – Weekly change in inventories.
• 11:00 AM ET: KC Fed Manufacturing Index (previous: -18) – A measure of manufacturing activity in the Kansas City Fed district.
• 11:00 AM ET: KC Fed Composite Index (Previous: -8) – An overall economic activity index for the Kansas City Fed region.
• 11:30 a.m. ET: 4-Week Exchange Auction (Previous: 4,700%) – Short-Term Treasury Auction Results.
• 11:30 a.m. ET: 8-Week Treasury Auction (Previous: 4,630%) – Results of the slightly longer-term Treasury Auction.
For more information and the latest updates, please consult our Economic Calendar here.
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