Consumer confidence and housing data in focus Tuesday

As traders approach another pivotal day for financial markets on Tuesday, September 24, 2024, a series of crucial economic data releases that could sway market dynamics are expected. The spotlight will be on consumer confidence figures, which often serve as a barometer for future consumer spending and overall economic health.

Major Economic Events to Watch:

• 10:00 AM ET - CB Consumer Confidence (Sep): Expected 103.5, Previous 103.3. This key indicator measures consumer optimism about the economy and can predict future spending patterns.

Other Important Economic Events to Watch:

• 9:00 AM ET - S&P/CS HPI Composite-20 n.s.a. (Jul): Expected 5.9%, Previous 6.5%. This index tracks changes in residential real estate prices across 20 metropolitan regions.

• 9:00 AM ET - FOMC Member Bowman Speaks: Her remarks may offer insights into future monetary policy decisions.

• 1:00 PM ET - 2-Year Note Auction: Previous yield 3.874%. This auction provides insight into investor demand for short-term government debt.

• 4:30 PM ET - API Weekly Crude Stock: Previous 1.960M. This report offers a glimpse into U.S. oil inventory levels and petroleum demand.

Other Economic Events to Watch:

• 8:55 AM ET - Redbook (YoY): Previous 4.6%. This index tracks year-over-year same-store sales growth in large U.S. general merchandise retailers.

• 9:00 AM ET - S&P/CS HPI Composite-20 n.s.a. (MoM): Previous 0.6%. Monthly change in residential real estate prices across 20 metropolitan regions.

• 9:00 AM ET - House Price Index (YoY): Previous 5.1%. This index reflects average changes in house prices across the country.

• 9:00 AM ET - Monthly Home Price Index: Previous 424.5. Measures changes in single-family home values across the U.S.

• 9:00 AM ET - S&P/CS HPI Composite - 20 s.a. (MoM): Previous 0.4%. Seasonally adjusted monthly change in home prices across 20 metropolitan areas.

• 9:00 AM ET - House Price Index (MoM): Expected 0.2%, Previous -0.1%. Monthly change in single-family home prices with mortgages backed by Fannie Mae or Freddie Mac.

• 10:00 AM ET - Richmond Services Index: Previous -11. Measures business activity in the services sector within the Fifth Federal Reserve District.

• 10:00 AM ET - Richmond Manufacturing Index: Expected -17, Previous -19. Indicates the level of manufacturing business conditions in the Richmond area.

• 10:00 AM ET - Richmond Manufacturing Shipments: Previous -15. Reflects changes in manufacturing shipments within the Fifth Federal Reserve District.

• 1:00 PM ET - US M2 Money Supply: Previous 21.05T. This measure of money supply includes financial assets held mainly by households.

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

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Source: Investing.com