GDP, jobless claims, and pending home sales data due Thursday By Investing.com

As traders approach another important day in the financial markets, a series of important decisions and economic data releases that could change the dynamics of the markets are expected on Thursday, August 29, 2024. The US economic calendar is full of high-impact releases, including Gross Domestic. The gross domestic product (GDP) report, Initial Jobless Claims, and Pending Home Sales data, all have the potential to influence market sentiment and Federal Reserve policy expectations.

Major Economic Events to Watch:

• 8:30 AM ET – GDP (Q2): Expected 2.8%, Previous 1.4%. It is the broadest measure of economic activity and a key indicator of economic health.

• 8:30 AM ET – Initial Jobless Claims: Forecast 232K, Previous 232K. It estimates new unemployment insurance claims, providing insight into the health of the labor market.

• 10:00 AM ET – Pending Home Sales (MoM): Expected 0.2%, Previous 4.8%. It shows the change in homes under contract for sale, excluding new construction.

Some Important Economic Events to Watch:

• 8:30 AM ET – Core PCE Prices (Q2): Forecast 2.90%, previous 3.70%. A key indicator of inflation is closely watched by the Federal Reserve.

• 8:30 AM ET – GDP Price Index (Q2): Expected 2.3%, Previous 3.1%. It measures the change in the value of all goods and services included in GDP.

• 8:30 AM ET – Merchandise Ex Auto (Jul): Up 0.2%. Shows changes in retail inventory levels, excluding vehicles.

• 8:30 AM ET – Merchandise Trade Balance (Jul): Forecast -$97.70B, Previous -$96.56B. It measures the difference in value between imported and exported goods.

• 8:30 AM ET – Jobless Claims Progress: Expected 1,870K, Past 1,863K. It shows the number of unemployed people who are eligible for unemployment insurance benefits.

• 1:00 PM ET – 7-Year Note Auction: Past 4.162%. It shows the yield of 7-year Treasury notes sold at auction.

• 3:30 PM ET – FOMC Member Bostic Speaks. Comments by the President of the Federal Reserve Bank of Atlanta may provide insight into future monetary policy.

• 4:30 PM ET – Fed Balance Sheet: Last $7,194B. It provides information on the assets and liabilities of the Federal Reserve.

• 4:30 PM ET – Federal Reserve Bank Balances: Last $3.359T. It shows the number of depository institutions that keep money in the Federal Reserve Banks of the region.

Other Economic Events to Watch:

• 8:30 AM ET – Real Consumer Spending (Q2): Expected 2.3%, Previous 1.5%. It measures household spending adjusted for inflation.

• 8:30 AM ET – GDP sales (Q2): Forecast 2.0%, previous 1.8%.

• 8:30 AM ET – PCE Rates (Q2): Expected 2.6%, Previous 3.4%. It measures changes in the prices of goods and services purchased by consumers.

• 8:30 AM ET – Corporate Profit (Q2): Previously -2.7%. It shows the total current production revenue of the companies.

• 8:30 AM ET – Jobless Claims 4-Week Avg.: Previous 236.00K. It gives a slippery slope to the first frivolous claims.

• 8:30 AM ET – Wholesale Inventories (Jul): Forecast 0.3%, previous 0.2%. It measures the change in the total number of goods held by retailers.

• 10:00 AM ET – Pending Home Sales Index: Last 74.3. Provides additional context to Pending Home Sales data.

• 10:30 AM ET – Natural Gas Storage: 33B Expected, 35B Past. It measures the change in the final surface area of ​​the earth.

• 11:30 AM ET – 4-Week Bill Auction: Past 5.240%. It shows the amount of 4-week Treasury bonds sold at auction.

• 11:30 AM ET – 8-Week Bill Auction: Last 5.125%. It shows the amount of 8-week Treasury bills sold at auction.

For more information and the latest updates, please see our Economic Calendar, here

This article was created with the support of AI and reviewed by an editor. For more information see our T&C.