What will drive the markets this week?
On Friday last week, U.S. equities finished higher after reports showed consumer inflation was lower again last month. These gains were however not sufficient to wipe out losses from earlier in the week as the Nasdaq and S&P 500 ended lower for the week.
This week will be a holiday-shortened one with U.S. markets closed on Monday. On Tuesday, the latest data on home prices will become available, with the S&P CoreLogic Case-Shiller National Home Price Index and Freddie Mac’s House Price Index (HPI) for October. On Wednesday, the National Association of Realtors (NAR) will issue pending home sales figures for November. The Chicago Purchasing Managers’ Index (PMI) for December, due on Friday, will also provide an update on the strength of the U.S. manufacturing sector.
Events expected to influence financial markets in the week
Monday, December 26
- U.S. Markets Closed for Holiday
Tuesday, December 27
- S&P Case-Shiller National Home Price Index (Oct)
- Freddie Mac National House Price Index (HPI) (Oct)
- Wholesale Inventories - Advance Estimate (Nov)
- Retail Inventories - Advance Estimate (Nov)
- Dallas Fed Manufacturing Index (Dec)
- U.S. Goods Trade Balance (Nov)
Wednesday, December 28
- Pending Home Sales (Nov)
- Dallas Fed Services Index (Dec)
- Richmond Fed Manufacturing Index (Dec)
Thursday, December 29
Friday, December 30
- Chicago Purchasing Managers’ Index (PMI) (Dec)