Building permits, new home sales, and Powell speech to shape Friday markets

As traders approach another pivotal day for financial markets on Friday, August 23, 2024, a series of crucial economic data releases and a key speech from Federal Reserve Chair Jerome Powell are expected to sway market dynamics. The housing market will be in focus with building permits and new home sales data, while Powell's remarks at the Jackson Hole Symposium could provide insights into future monetary policy direction.

Major Economic Events to Watch

• 8:30 AM ET - Building Permits (Jul): Measures change in new building permits issued. Forecast: 1.396M, Previous: 1.454M

• 10:00 AM ET - New Home Sales (Jul): Annualized number of new single-family homes sold. Forecast: 624K, Previous: 617K

• 10:00 AM ET - Fed Chair Powell Speaks: Remarks at Jackson Hole Symposium, potential hints on future monetary policy

Other Important Economic Events to Watch

• 7:00 AM ET - Jackson Hole Symposium: Global economic forum for central bankers and finance ministers

• 8:30 AM ET - Building Permits (MoM) (Jul): Percentage change in building permits. Previous: 3.9%

• 10:00 AM ET - New Home Sales (MoM) (Jul): Percentage change in new home sales. Previous: -0.6%

• 1:00 PM ET - Baker Hughes U.S. Rig Count: Indicator of oil drilling industry activity. Previous: 483

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

• 3:30 PM ET - CFTC S&P 500 speculative positions: Indicator of market sentiment. Previous: -23.5K

• 3:30 PM ET - CFTC Nasdaq 100 speculative positions: Speculative positions in Nasdaq futures. Previous: 8.5K

• 3:30 PM ET - CFTC Gold speculative positions: Indicator of gold market sentiment. Previous: 267.3K

• 3:30 PM ET - CFTC Crude Oil speculative positions: Speculative positions in oil futures. Previous: 231.5K

Other Economic Events to Watch

• 3:30 PM ET - CFTC Aluminium speculative net positions: Speculative positions in aluminum futures. Previous: 2.2K

• 3:30 PM ET - CFTC Copper speculative positions: Speculative positions in copper futures . Previous: 15.8K

• 3:30 PM ET - CFTC Silver speculative positions: Speculative positions in silver futures . Previous: 45.3K

• 3:30 PM ET - CFTC Natural Gas speculative positions: Speculative positions in natural gas futures . Previous: -80.8K

• 3:30 PM ET - CFTC Wheat speculative positions: Speculative positions in wheat futures. Previous: -38.9K

• 3:30 PM ET - CFTC Corn speculative positions: Speculative positions in corn futures. Previous: -154.0K

• 3:30 PM ET - CFTC Soybeans speculative positions: Speculative positions in soybean futures. Previous: -165.7K

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