S&P/CS HPI, API crude stock, and redbook data due Tuesday

As traders approach another pivotal day for financial markets on Tuesday, December 31, 2024, a series of crucial economic data releases that could sway market dynamics are expected. The S&P/Case-Shiller House Price Index, API Weekly Crude Stock report, and Redbook Index are among the key economic indicators set to be released, potentially influencing various sectors from real estate to energy.

Major Economic Events to Watch

• S&P/CS HPI Composite-20 n.s.a. (9:00 AM ET): Forecast 4.1%, Previous 4.6%. Measures the change in selling price of single-family homes in 20 metropolitan areas.

Other Important Economic Events to Watch

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

Other Economic Events to Watch

• Redbook (8:55 AM ET): Previous 5.9%. Sales-weighted index of year-over-year same-store sales growth in large US general merchandise retailers.

• House Price Index (9:00 AM ET): Previous 4.4%. Reflects average change of house prices across the country.

• House Price Index (9:00 AM ET): Forecast 0.5%, Previous 0.7%. Broad measure of single-family house prices with mortgages backed by Fannie Mae (OTC:FNMA ) or Freddie Mac (OTC:FMCC ).

• S&P/CS HPI Composite - 20 s.a. (9:00 AM ET): Previous 0.2%. Reflects average change of house prices across the country or certain areas.

• Monthly Home Price Index (9:00 AM ET): Previous 430.3. Captures changes in the value of single-family homes in the U.S.

• S&P/CS HPI Composite-20 n.s.a. (9:00 AM ET): Previous -0.4%. Tracks repeat sales of houses using a modified version of the weighted-repeat sales methodology.

• Dallas Fed Services Revenues (10:30 AM ET): Previous 10.9. Survey-based index calculating changes in services sector revenues.

• Texas Services Sector Outlook (10:30 AM ET): Previous 9.8. Survey-based index reflecting changes in the Texas services sector.

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

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Source: Investing.com