Building permits and housing starts data to shape Friday's market outlook

As traders approach another pivotal day for financial markets, Friday, October 18, 2024, brings a series of crucial economic data releases that could sway market dynamics. The spotlight will be on the building permits report, a key indicator of housing market demand, which is expected to provide insights into the construction sector's health and broader economic trends.

Major Economic Events to Watch

• 8:30 AM ET - Building Permits (Sep): Forecast 1.450M, Previous 1.470M. This measure of new building permits issued by the government is a crucial indicator of housing market demand.

Other Important Economic Events to Watch

• 8:30 AM ET - Housing Starts (Sep): Forecast 1.350M, Previous 1.356M. This data measures the change in the annualized number of new residential buildings that began construction.

• 9:30 AM ET - FOMC Member Bostic Speaks: Atlanta Fed President's remarks may offer clues on future monetary policy.

• 10:00 AM ET - FOMC Member Kashkari Speaks: Minneapolis Fed President's comments could impact market expectations.

• 10:30 AM ET - Atlanta Fed GDPNow: Forecast 3.4%, Previous 3.4%. This running estimate of real GDP growth provides insights into current economic performance.

• 12:10 PM ET - Fed Waller Speaks: Federal Reserve Governor's speech may influence market sentiment.

• 12:30 PM ET - FOMC Member Bostic Speaks: A second appearance by the Atlanta Fed President.

• 1:00 PM ET - Baker Hughes U.S. Rig Count: Previous 481. This data serves as a leading indicator of demand for oil products.

• 1:00 PM ET - U.S. Baker Hughes Total Rig Count: Previous 586.

• 3:30 PM ET - CFTC S&P 500 speculative positions: Previous -5.6K. This report provides insights into market sentiment among speculative traders.

• 3:30 PM ET - CFTC Nasdaq 100 speculative positions: Previous 13.3K.

• 3:30 PM ET - CFTC Gold speculative positions: Previous 278.2K.

• 3:30 PM ET - CFTC Crude Oil speculative positions: Previous 190.6K.

Other Economic Events to Watch

• 3:30 PM ET - CFTC Aluminium speculative net positions: Previous 2.9K.

• 3:30 PM ET - CFTC Copper speculative positions: Previous 43.1K.

• 3:30 PM ET - CFTC Silver speculative positions: Previous 54.7K.

• 3:30 PM ET - CFTC Natural Gas speculative positions: Previous -123.6K.

• 3:30 PM ET - CFTC Wheat speculative positions: Previous -13.5K.

• 3:30 PM ET - CFTC Corn speculative positions: Previous 36.1K.

• 3:30 PM ET - CFTC Soybeans speculative positions: Previous -51.2K.

For further information and the latest updates, please refer to our Economic Calendar, here.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Source: Investing.com