Durable goods orders, new home sales data to shape Tuesday's markets

As traders approach another pivotal day for financial markets on Tuesday, December 24, 2024, a series of crucial economic data releases that could sway market dynamics are expected. The spotlight will be on durable goods orders and new home sales figures, which are poised to provide insights into manufacturing activity and housing market health, respectively.

Major Economic Events to Watch

• 8:30 AM ET: Durable Goods Orders (Forecast: -0.3%, Previous: 0.2%) - Measures the change in total value of new orders for long-lasting manufactured goods.

• 10:00 AM ET: New Home Sales (Forecast: 666K, Previous: 610K) - Indicates the annualized number of new single-family homes sold in the previous month.

Other Important Economic Events to Watch

• 8:30 AM ET: Core Durable Goods Orders (Forecast: 0.3%, Previous: 0.1%) - Measures new orders for manufactured goods excluding transportation items.

• 10:00 AM ET: New Home Sales (Previous: -17.3%) - Shows the percentage change in new home sales.

• 1:00 PM ET: Atlanta Fed GDPNow - Provides a running estimate of real GDP growth for the current measured quarter.

• 1:00 PM ET: 5-Year Note Auction (Previous: 4.197%) - Displays the yield on the Treasury Note auctioned.

• 4:30 PM ET: API Weekly Crude Stock (Previous: -4.700M) - Reports inventory levels of US crude oil , gasoline, and distillates stocks.

Other Economic Events to Watch

• 8:30 AM ET: Durables Excluding Defense (Previous: 0.5%) - Indicates new orders for durable goods excluding defense-related items.

• 8:30 AM ET: Goods Orders Non Defense Ex Air (Previous: -0.2%) - Shows manufacturers' new orders for nondefense capital goods excluding aircraft.

• 8:55 AM ET: Redbook (Previous: 4.8%) - Measures year-over-year same-store sales growth in large US general merchandise retailers.

• 9:00 AM ET: Dallas Fed PCE (Previous: 2.30%) - Provides an alternative measure of core inflation.

• 10:00 AM ET: Richmond Manufacturing Index (Forecast: -11, Previous: -14) - Rates the relative level of business conditions in the Richmond area.

• 10:00 AM ET: Richmond Manufacturing Shipments (Previous: -12) - Indicates the change in manufacturing shipments in the Richmond Federal Reserve District.

• 10:00 AM ET: Richmond Services Index (Previous: 9) - Measures business activity in the services sector for the Richmond area.

• 11:00 AM ET: US M2 Money Supply (Previous: 23.31T) - Reports the total money supply circulating in the U.S. economy.

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