As traders approach another pivotal day for financial markets, a series of crucial decisions and economic data releases that could sway market dynamics are expected on Thursday, October 31, 2024. The Core PCE Price Index, Initial Jobless Claims, and other significant economic indicators will be in focus, potentially influencing market sentiment and Federal Reserve policy decisions.
Major Economic Events to Watch
• 8:30 AM ET - Core PCE Price Index (Oct): Forecast 0.3%, Previous 0.1%. Key inflation measure closely watched by the Fed.
• 8:30 AM ET - Initial Jobless Claims: Forecast 229K, Previous 227K. Early indicator of employment trends.
Other Important Economic Events to Watch
• 8:30 AM ET - Employment Cost Index (Q3): Forecast 0.9%, Previous 0.9%. Measures changes in labor costs.
• 8:30 AM ET - Personal Spending (Sep): Forecast 0.4%, Previous 0.2%. Indicator of consumer economic activity.
• 8:30 AM ET - PCE Price Index (YoY) (Sep): Forecast 2.1%, Previous 2.2%. Broad measure of inflation.
• 8:30 AM ET - PCE Price Index (MoM) (Sep): Forecast 0.2%, Previous 0.1%. Monthly change in inflation.
• 8:30 AM ET - Continuing Jobless Claims: Forecast 1,890K, Previous 1,897K. Ongoing unemployment indicator.
• 9:45 AM ET - Chicago PMI (Oct): Forecast 47.1, Previous 46.6. Gauge of Midwest manufacturing activity.
• 11:30 AM ET - Atlanta Fed GDPNow (Q3): Forecast 2.8%, Previous 2.8%. Real-time GDP growth estimate.
• 4:30 PM ET - Fed's Balance Sheet: Previous $7,029B. Indicator of Fed's monetary policy stance.
Other Economic Events to Watch
• 7:30 AM ET - Challenger Job Cuts (YoY) (Oct): Previous 53.4%. Measure of announced corporate layoffs.
• 8:30 AM ET - Employment Wages (Q3): Previous 0.90%. Tracks changes in labor compensation.
• 8:30 AM ET - Employment Benefits (Q3): Previous 1.00%. Measures changes in employee benefits costs.
• 8:30 AM ET - Personal Income (Sep): Forecast 0.3%, Previous 0.2%. Indicator of consumer earning power.
• 8:30 AM ET - Real Personal Consumption (Sep): Previous 0.1%. Inflation-adjusted consumer spending.
• 8:30 AM ET - Jobless Claims 4-Week Avg.: Previous 238.50K. Smoothed measure of unemployment claims.
• 9:00 AM ET - Dallas Fed PCE (Sep): Previous 1.50%. Regional inflation measure.
• 10:30 AM ET - Natural Gas Storage: Forecast 79B, Previous 80B. Indicator of natural gas demand.
• 11:30 AM ET - 4-Week Bill Auction: Previous 4.650%. Short-term government debt sale.
• 11:30 AM ET - 8-Week Bill Auction: Previous 4.590%. Short-term government debt sale.
For further information and the latest updates, please refer to our Economic Calendar, here.
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