Retail sales, core retail sales data to shape market outlook Tuesday

As traders approach another pivotal day for financial markets, Tuesday, September 17, 2024, brings a series of crucial economic data releases that could sway market dynamics. The spotlight falls on retail sales and core retail sales figures, which are key indicators of consumer spending and overall economic health in the United States.


Major Economic Events to Watch:

• 8:30 AM ET - Core Retail Sales (Forecast: 0.2%, Previous: 0.4%): Measures change in retail sales excluding automobiles, a crucial indicator of consumer spending.

• 8:30 AM ET - Retail Sales (Forecast: -0.2%, Previous: 1.0%): Gauges overall consumer spending, a significant component of economic activity.


Other Important Economic Events to Watch:

• 8:30 AM ET - Retail Control (Previous: 0.3%): Provides insight into consumer spending patterns.

• 9:15 AM ET - Industrial Production (Forecast: 0.1%, Previous: -0.6%): Measures changes in output from manufacturers, mines, and utilities.

• 10:00 AM ET - Business Inventories (Forecast: 0.4%, Previous: 0.3%): Indicates changes in the value of unsold goods held by businesses.

• 10:00 AM ET - Retail Inventories Ex Auto (Forecast: 0.5%, Previous: 0.5%): Measures inventory levels excluding automobiles.

• 12:00 PM ET - Atlanta Fed GDPNow (Forecast: 2.5%, Previous: 2.5%): Provides a running estimate of real GDP growth for the current quarter.

• 1:00 PM ET - 20-Year Bond Auction (Previous: 4.160%): Offers insight into government debt and investor sentiment.

• 4:30 PM ET - API Weekly Crude Stock (Previous: -2.790M): Reports inventory levels of US crude oil , impacting oil price dynamics.


Other Economic Events to Watch:

• 8:30 AM ET - Retail Sales Ex Gas/Autos (Forecast: 0.3%, Previous: 0.4%): Shows underlying retail demand patterns.

• 8:55 AM ET - Redbook (Previous: 6.5%): Indicates year-over-year same-store sales growth in large US retailers.

• 9:15 AM ET - Manufacturing Output (Previous: -0.3%): Measures changes in manufacturing production.

• 9:15 AM ET - Capacity Utilization Rate (Forecast: 77.9%, Previous: 77.8%): Reflects overall economic growth and demand.

• 10:00 AM ET - NAHB Housing Market Index (Forecast: 41, Previous: 39): Rates the outlook on single-family home sales.

• 10:00 AM ET - Fed Logan Speaks: Dallas Fed President Lorie K. Logan addresses the public.


For further information and the latest updates, please refer to our Economic Calendar, here https://www.investing.com/economic-calendar/


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

Source: Investing.com