As traders approach another pivotal day for financial markets, Wednesday, October 30, 2024, brings a series of crucial economic data releases that could sway market dynamics. The ADP Nonfarm Employment Change, GDP figures, Pending Home Sales, and EIA Crude Oil Inventories are among the key reports expected to provide insights into the health of the U.S. economy and potentially influence market sentiment.
Major Economic Events to Watch
• 7:15 AM ET - ADP Nonfarm Employment Change: Forecast 101K, Previous 143K. A key predictor of the government's non-farm payroll report.
• 7:30 AM ET - GDP: Forecast 3.0%, Previous 3.0%. The broadest measure of economic activity and primary indicator of the economy's health.
• 9:00 AM ET - Pending Home Sales: Forecast 0.9%, Previous 0.6%. Measures the change in homes under contract to be sold.
• 9:30 AM ET - EIA Crude Oil Inventories: Previous 5.474M. Weekly change in commercial crude oil held by U.S. firms, influencing petroleum prices.
Other Important Economic Events to Watch
• 7:30 AM ET - Core PCE Prices: Forecast 2.10%, Previous 2.80%. Measures changes in goods and services prices, excluding food and energy.
• 7:30 AM ET - GDP Price Index: Forecast 2.0%, Previous 2.5%. Measures the annualized change in the price of all goods and services in GDP.
• 9:30 AM ET - EIA Weekly Cushing Oil Inventories: Previous -0.346M. Change in crude oil storage at the key delivery point for U.S. oil benchmark.
Other Economic Events to Watch
• 6:00 AM ET - MBA 30-Year Mortgage Rate: Previous 6.52%. Fixed 30-year mortgage lending rates for 80% loan-to-value mortgages.
• 6:00 AM ET - MBA Mortgage Applications: Previous -6.7%. Change in new applications for mortgages backed by the MBA.
• 6:00 AM ET - MBA Purchase Index: Previous 131.3. Includes all mortgage applications for single-family home purchases.
• 6:00 AM ET - Mortgage Market Index: Previous 214.8. Covers all mortgage applications during the week.
• 6:00 AM ET - Mortgage Refinance Index: Previous 672.6. Covers all mortgage applications to refinance existing mortgages.
• 7:30 AM ET - GDP Sales: Previous 1.9%. Measures the annualized change in the inflation-adjusted value of all goods and services sold.
• 7:30 AM ET - Real Consumer Spending: Previous 2.8%. Measures inflation-adjusted amount of money spent by U.S. households.
• 7:30 AM ET - PCE Prices: Forecast 2.7%, Previous 2.5%. Measures changes in prices of goods and services purchased by consumers.
• 9:00 AM ET - Pending Home Sales Index: Previous 70.6. Measures the change in homes under contract to be sold.
• 9:30 AM ET - EIA Weekly Gasoline Production: Previous 0.666M. Measures weekly gasoline production.
• 9:30 AM ET - EIA Weekly Refinery Utilization Rates: Previous 1.8%. Indicates refinery capacity utilization.
• 9:30 AM ET - EIA Refinery Crude Runs: Previous 0.329M. Measures the amount of crude processed by refineries.
• 9:30 AM ET - Gasoline Inventories: Previous 0.878M. Measures change in commercial gasoline inventories.
• 9:30 AM ET - EIA Weekly Heatoil Stock: Previous -0.280M. Measures change in heating oil inventories.
• 9:30 AM ET - EIA Weekly Distillate Fuel Production: Previous 0.257M. Measures weekly distillate fuel production.
• 9:30 AM ET - EIA Weekly Crude Imports: Previous 0.913M. Measures weekly crude oil imports.
• 9:30 AM ET - EIA Weekly Distillates Stocks: Previous -1.140M. Measures change in distillates inventories.
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.