Building permits, new home sales, and oil data in focus Wednesday

As traders approach another pivotal day for financial markets, Wednesday, September 25, 2024, brings a series of crucial economic data releases that could sway market dynamics. Building permits, new home sales, and crude oil inventories are among the key reports expected to provide insights into the housing sector and energy markets, potentially influencing investor sentiment and market trends.

Major Economic Events to Watch

• 8:30 AM ET - Building Permits (Aug): Forecast 1.475M, Previous 1.406M. A key indicator of housing market demand.

• 10:00 AM ET - New Home Sales (Aug): Forecast 699K, Previous 739K. Measures annualized new single-family home sales.

• 10:30 AM ET - EIA Crude Oil Inventories: Forecast -1.200M, Previous -1.630M. Weekly change in commercial crude oil stocks.

Other Important Economic Events to Watch

• 8:30 AM ET - Building Permits (MoM) (Aug): Forecast 4.9%, Previous -3.3%. Month-over-month change in building permits issued.

• 10:00 AM ET - New Home Sales (MoM) (Aug): Previous 10.6%. Percentage change in new home sales.

• 10:30 AM ET - EIA Weekly Cushing Oil Inventories: Previous -1.979M. Crude oil storage levels at Cushing, Oklahoma.

• 1:00 PM ET - 5-Year Note Auction: Previous 3.645%. Treasury note auction yield, indicating government borrowing costs.

Other Economic Events to Watch

• 7:00 AM ET - MBA 30-Year Mortgage Rate: Previous 6.15%. Fixed 30-year mortgage lending rates.

• 7:00 AM ET - MBA Mortgage Applications: Previous 14.2%. Weekly change in mortgage applications.

• 7:00 AM ET - MBA Purchase Index: Previous 146.1. Indicator of impending home sales.

• 7:00 AM ET - Mortgage Market Index: Previous 266.8. Covers all mortgage applications during the week.

• 7:00 AM ET - Mortgage Refinance Index: Previous 941.4. Gauge of mortgage refinancing activity.

• 10:30 AM ET - Gasoline Inventories: Forecast 0.200M, Previous 0.069M. Weekly change in commercial gasoline stocks.

• 10:30 AM ET - EIA Weekly Heatoil Stock: Previous -0.352M. Heating oil inventory levels.

• 10:30 AM ET - EIA Weekly Refinery Utilization Rates: Previous -0.7%. Refinery capacity utilization.

• 10:30 AM ET - EIA Weekly Crude Imports: Previous -1.829M. Weekly change in crude oil imports.

• 10:30 AM ET - EIA Weekly Distillates Stocks: Forecast -2.200M, Previous 0.125M. Distillates inventory levels.

• 10:30 AM ET - EIA Refinery Crude Runs: Previous -0.282M. Amount of crude processed by refineries.

• 10:30 AM ET - EIA Weekly Distillate Fuel Production: Previous -0.153M. Weekly distillate fuel production.

• 10:30 AM ET - EIA Weekly Gasoline Production: Previous 0.284M. Weekly gasoline production.

• 4:00 PM ET - FOMC Member Kugler Speaks. Federal Reserve Governor Adriana Kugler's remarks on monetary policy.

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