As traders approach another pivotal day for financial markets, Thursday, August 22, 2024, brings a series of crucial economic data releases that could sway market dynamics. The spotlight will be on initial jobless claims, manufacturing and services PMI data, and existing 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: Expected at 232K, previous 227K. Measures first-time unemployment insurance claims.
• 9:45 AM ET - Manufacturing PMI: Forecast at 49.5, previous 49.6. Indicates manufacturing sector activity.
• 9:45 AM ET - Services PMI: Anticipated at 54.0, previous 55.0. Reflects service sector performance.
• 10:00 AM ET - Existing Home Sales: Projected at 3.93M, previous 3.89M. Gauges strength of the housing market.
Other Important Economic Events to Watch
• 7:00 AM ET - Jackson Hole Symposium: Annual gathering of central bankers and financial experts.
• 8:30 AM ET - Continuing Jobless Claims: Expected at 1,870K, previous 1,864K. Measures ongoing unemployment claims.
• 9:45 AM ET - S&P Global (NYSE:SPGI) Composite PMI: Forecast at 53.5, previous 54.3. Combines manufacturing and services sector data.
• 10:00 AM ET - Existing Home Sales (MoM): Previous -5.4%. Shows monthly change in existing home sales.
• 1:00 PM ET - 30-Year TIPS Auction: Previous yield 2.200%. Treasury inflation-protected securities auction.
• 4:30 PM ET - Fed's Balance Sheet: Previous $7,178B. Weekly disclosure of Federal Reserve assets and liabilities.
• 4:30 PM ET - Reserve balances with Federal Reserve Banks: Previous $3.339T. Shows depository institutions' reserve balances.
Other Economic Events to Watch
• 8:30 AM ET - Chicago Fed National Activity: Previous 0.05. Tracks economic activity in the 7th Federal Reserve district.
• 8:30 AM ET - Jobless Claims 4-Week Avg.: Previous 236.50K. Smoothed measure of initial jobless claims.
• 10:30 AM ET - Natural Gas Storage: Expected 22B, previous -6B. Measures change in natural gas inventories.
• 11:00 AM ET - KC Fed Composite Index: Previous -13. Indicates manufacturing activity in the Kansas City Fed district.
• 11:00 AM ET - KC Fed Manufacturing Index: Previous -12. Focuses on manufacturing in the Kansas City Fed region.
• 11:30 AM ET - 4-Week Bill Auction: Previous yield 5.260%. Short-term Treasury bill auction.
• 11:30 AM ET - 8-Week Bill Auction: Previous yield 5.175%. Another short-term Treasury bill auction.
For further information and the latest updates, please refer to our Economic Calendar, here https://www.investing.com/economic-calendar/
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