Retail sales and industrial production data to shape Tuesday's markets

As traders approach another pivotal day for financial markets, Tuesday, December 17, 2024, brings a series of crucial economic data releases that could sway market dynamics. The spotlight falls on retail sales figures and industrial production data, which are expected to provide insights into consumer spending patterns and manufacturing sector health, respectively.

Major Economic Events to Watch

• 8:30 AM ET - Retail Sales (Nov): Expected 0.6%, Previous 0.4%. A key indicator of consumer spending and overall economic activity.

• 8:30 AM ET - Core Retail Sales (Nov): Forecast 0.4%, Previous 0.1%. Measures retail sales excluding automobiles, providing a focused view of consumer trends.

• 9:15 AM ET - Industrial Production (Nov): Anticipated 0.2%, Previous -0.3%. Reflects changes in the total inflation-adjusted value of output across various sectors.

Other Important Economic Events to Watch

• 8:30 AM ET - Retail Control (Nov): Previous -0.1%. A component of retail sales used to calculate GDP.

• 10:00 AM ET - Business Inventories (Oct): Expected 0.2%, Previous 0.1%. Indicates changes in the value of unsold goods held by businesses.

• 1:00 PM ET - 20-Year Bond Auction: Previous yield 4.680%. Provides insights into government debt and investor sentiment.

• 1:00 PM ET - Atlanta Fed GDPNow: Forecast 3.3%, Previous 3.3%. Offers a running estimate of real GDP growth for the current quarter.

• 4:30 PM ET - API Weekly Crude Stock: Previous 0.499M. Gives an overview of US petroleum demand and inventory levels.

Other Economic Events to Watch

• 8:30 AM ET - Retail Sales Ex Gas/Autos (Nov): Expected 0.4%, Previous 0.1%. Shows underlying retail demand patterns.

• 8:55 AM ET - Redbook (YoY): Previous 4.2%. Measures same-store sales growth in large US general merchandise retailers.

• 9:15 AM ET - Manufacturing Output (Nov): Previous -0.5%. Indicates changes in manufacturing production.

• 9:15 AM ET - Capacity Utilization Rate (Nov): Forecast 77.3%, Previous 77.1%. Reflects overall economic growth and demand.

• 10:00 AM ET - NAHB Housing Market Index (Dec): Expected 47, Previous 46. Rates the level of current and future single-family home sales.

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