GDP, jobless claims, and home sales data due Thursday

As traders approach another pivotal day for financial markets, a series of crucial economic data releases that could sway market dynamics are expected on Thursday, December 19, 2024. The U.S. economic calendar is packed with high-impact reports, including the latest GDP figures, jobless claims data, existing home sales numbers, and the Philadelphia Fed Manufacturing Index.

Major Economic Events to Watch:

• 8:30 AM ET - GDP (Q3): Forecast 2.8%, Previous 3.0%. This key indicator of economic health measures the annualized change in the inflation-adjusted value of all goods and services produced.

• 8:30 AM ET - Philadelphia Fed Manufacturing Index (Dec): Forecast 3.0, Previous -5.5. This index rates the relative level of general business conditions in Philadelphia.

• 8:30 AM ET - Initial Jobless Claims: Forecast 229K, Previous 242K. This report measures the number of individuals who filed for unemployment insurance for the first time during the past week.

• 10:00 AM ET - Existing Home Sales (Nov): Forecast 4.09M, Previous 3.96M. This report gauges the strength of the U.S. housing market and is a key indicator of overall economic strength.

Other Important Economic Events to Watch:

• 8:30 AM ET - Core PCE Prices (Q3): Forecast 2.10%, Previous 2.80%. This measures changes in the price of goods and services purchased by consumers, excluding food and energy.

• 8:30 AM ET - GDP Price Index (Q3): Forecast 1.9%, Previous 2.5%. This index measures the annualized change in the price of all goods and services included in gross domestic product.

• 8:30 AM ET - Philly Fed Employment (Dec): Previous 8.6. This is the employment component of the Philadelphia Fed Manufacturing Index.

• 8:30 AM ET - Continuing Jobless Claims: Forecast 1,890K, Previous 1,886K. This measures the number of unemployed individuals who qualify for unemployment insurance benefits.

• 10:00 AM ET - Existing Home Sales (MoM) (Nov): Previous 3.4%. This shows the change in the number of existing residential buildings sold during the previous month.

• 4:00 PM ET - TIC Net Long-Term Transactions (Oct): Previous 216.1B. This measures the difference in value between foreign long-term securities purchased by U.S. citizens and U.S. long-term securities purchased by foreigners.

• 4:30 PM ET - Fed's Balance Sheet (Dec 15): Previous 6,897B. This statement lists the assets and liabilities of the Federal Reserve System.

• 4:30 PM ET - Reserve Balances with Federal Reserve Banks : Previous 3.274T. This shows the amount of money that depository institutions maintain in their accounts at regional Federal Reserve Banks.

Other Economic Events to Watch:

• 8:30 AM ET - Real Consumer Spending (Q3): Forecast 3.5%, Previous 2.8%. This measures the inflation-adjusted amount of money spent by households in the U.S. economy.

• 8:30 AM ET - GDP Sales (Q3): Forecast 3.0%, Previous 1.9%.

• 8:30 AM ET - PCE Prices (Q3): Forecast 1.5%, Previous 2.5%. This measures changes in the price of goods and services purchased by consumers.

• 8:30 AM ET - Philly Fed Business Conditions (Dec): Previous 56.6. This survey questions manufacturers on general business conditions in the Philadelphia region.

• 8:30 AM ET - Philly Fed New Orders (Dec): Previous 8.9. This component of the Philadelphia Fed Index focuses on new orders received by manufacturers.

• 8:30 AM ET - Philly Fed Prices Paid (Dec): Previous 26.60. This measures the change in the price of goods paid by manufacturers in the Philadelphia region.

• 8:30 AM ET - Philly Fed Capex Index (Dec): Previous 24.90. This component of the Philadelphia Fed Index focuses on capital expenditures by manufacturers.

• 8:30 AM ET - Corporate Profits (Q3): Forecast 0.0%, Previous 3.5%. This measures the net current-production income of organizations treated as corporations in the National Income and Product Accounts.

• 8:30 AM ET - Jobless Claims 4-Week Avg.: Previous 224.25K. This provides a smoother measure of jobless claims by averaging the past four weeks of data.

• 10:00 AM ET - US Leading Index (Nov): Forecast -0.1%, Previous -0.4%. This index is designed to signal peaks and troughs in the business cycle.

• 10:30 AM ET - Natural Gas Storage: Previous -190B. This measures the change in the number of cubic feet of natural gas held in underground storage.

• 11:00 AM ET - KC Fed Manufacturing Index (Dec): Previous -4. This survey provides information on current manufacturing activity in the Tenth Federal Reserve District.

• 11:00 AM ET - KC Fed Composite Index (Dec): Previous -2. This index provides a broader view of economic activity in the Tenth Federal Reserve District.

• 11:30 AM ET - 4-Week Bill Auction: Previous 4.240%. This represents the rate on the 4-week Treasury Bill being auctioned.

• 11:30 AM ET - 8-Week Bill Auction: Previous 4.260%. This represents the rate on the 8-week Treasury Bill being auctioned.

• 4:00 PM ET - TIC Net Long-Term Transactions including Swaps (Oct): Previous 216.10B. This measures international financial flows, including swaps.

• 4:00 PM ET - Overall Net Capital Flow (Oct): Previous 398.40B. This indicator shows the sum of various components of international financial flows.

• 4:00 PM ET - Foreign Buying, T-bonds (Oct): Previous 77.00B. This measures net purchases of U.S. treasury bonds and notes by major foreign sectors.

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