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, October 24, 2024. The day's lineup includes key indicators such as initial jobless claims, manufacturing and services PMIs, building permits, and new home sales figures, all of which have the potential to influence investor sentiment and market direction.
Major Economic Events to Watch
• 8:30 AM ET: Initial Jobless Claims (Forecast: 243K, Previous: 241K) - A weekly measure of first-time unemployment insurance claims.
• 8:30 AM ET: Building Permits (Forecast: 1.428M, Previous: 1.470M) - An indicator of future construction activity.
• 9:45 AM ET: Manufacturing PMI (Forecast: 47.5, Previous: 47.3) - A gauge of manufacturing sector activity.
• 9:45 AM ET: Services PMI (Forecast: 55.0, Previous: 55.2) - An assessment of the services sector performance.
• 10:00 AM ET: New Home Sales (Forecast: 719K, Previous: 716K) - A measure of new single-family home sales.
Other Important Economic Events to Watch
• 8:30 AM ET: Continuing Jobless Claims (Forecast: 1,880K, Previous: 1,867K) - Tracks ongoing unemployment benefit claims.
• 8:30 AM ET: Building Permits (Forecast: -2.9%, Previous: 4.6%) - Month-over-month percentage change in building permits issued.
• 9:45 AM ET: S&P Global Composite PMI (Previous: 54.0) - A comprehensive measure of overall economic activity.
• 10:00 AM ET: New Home Sales (Previous: -4.7%) - Month-over-month percentage change in new home sales.
• 1:00 PM ET: 5-Year TIP Auction (Previous: 2.050%) - Treasury Inflation-Protected Securities auction results.
• 4:30 PM ET: Fed's Balance Sheet (Previous: 7,039B) - Weekly update on the Federal Reserve's assets and liabilities.
• 4:30 PM ET: Reserve balances with Federal Reserve Banks (Previous: 3.229T) - Depository institutions' account balances at the Fed.
Other Economic Events to Watch
• 6:00 AM ET: IMF Meetings - Annual gathering of global financial leaders to discuss economic issues.
• 8:30 AM ET: Chicago Fed National Activity (Previous: 0.12) - A monthly index tracking economic activity in the Chicago Fed district.
• 8:30 AM ET: Jobless Claims 4-Week Avg. (Previous: 236.25K) - A smoother measure of unemployment claims trends.
• 10:30 AM ET: Natural Gas Storage (Forecast: 61B, Previous: 76B) - Weekly change in natural gas inventories.
• 11:00 AM ET: KC Fed Manufacturing Index (Previous: -18) - A measure of manufacturing activity in the Kansas City Fed district.
• 11:00 AM ET: KC Fed Composite Index (Previous: -8) - An overall economic activity index for the Kansas City Fed region.
• 11:30 AM ET: 4-Week Bill Auction (Previous: 4.700%) - Results of the short-term Treasury bill auction.
• 11:30 AM ET: 8-Week Bill Auction (Previous: 4.630%) - Results of the slightly longer-term Treasury bill auction.
For further information and the latest updates, please refer to our Economic Calendar, here.
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