By ~ calculated risk September 14, 2024 8:11:00 AM
Key reports this week are August retail sales, housing starts and existing home sales.
For manufacturing, August industrial production and September New York and Philadelphia federal surveys are released this week.
The FOMC is expected to meet this week and cut rates.
—– Monday, September 16 —–
8:30 a.m. ET: Federal Reserve Bank of New York Empire State Manufacturing Survey For September, the consensus figure was -4.0, up from -4.7.
—– Tuesday, September 17 —–
8:30 a.m. ET: Retail sales For August, it will be announced. The consensus is that retail sales will rise by 0.2%.
This graph shows retail sales since 1992. These are seasonally adjusted monthly retail sales and food service (total and excluding gasoline).
9:15 a.m.: The Fed is scheduled to announce Industrial production and capacity utilization August.
This graph shows industrial production since 1967.
The consensus is that industrial production will increase by 0.1% and capacity utilization will increase to 77.9%.
10:00 AM: September NAHB Homebuilder Survey. The consensus is 40, up from 39 in August. A reading below 50 indicates more builders are seeing sales conditions as worse than good.
—– Wednesday, September 18 —–
7 a.m. ET: The Mortgage Bankers Association (MBA) reports its results. Mortgage Purchase Application Index.
8:30 a.m.: Housing Starts August.
This graph shows single-family home starts and total housing starts since 1968.
The agreed amount increased from SAAR 1,238,000 to SAAR 1,250,000.
During the day: AIA Building Billings Index August (leading indicator for commercial real estate)
2pm: FOMC Meeting AnnouncementThe Fed is expected to cut rates by 25 basis points at this meeting.
2pm: FOMC Forecast It includes forecasts by Federal Open Market Committee (FOMC) participants of the appropriate target federal funds rate and quarterly economic outlooks.
2:30 p.m.: Federal Reserve Chairman Jerome Powell There will be a press briefing following the FOMC announcement.
—– Thursday, September 19 —–
8:30 a.m.: First Weekly Unemployment Claims The report is due to be released. The agreed figure is 235,000, up from 230,000 last week.
8:30 a.m.: Philly Federal Manufacturing Survey For September, the consensus figure was -7.0, up from 2.0.
10:00 AM: Selling an existing home According to the National Association of Realtors (NAR) August forecast, agreements decreased to 3.85 million SAAR from 3.95 million in July.
The graph shows existing home sales from 1994 through last month’s report.
—– Friday, September 20 —–
10:00 AM: National Employment and Unemployment (Monthly) August 2024
