by Bill McBride on 7/18/2012 09:31:00 PM
Wednesday, July 18, 2012
Existing home sales for June is the key release on Thursday. Most of the focus will be on sales, but the key numbers are inventory and months-of-supply.
• At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for claims to increase to 365 thousand.
• At 10:00 AM, Existing Home Sales for June from the National Association of Realtors (NAR). The consensus is for sales of 4.65 million on seasonally adjusted annual rate (SAAR) basis, up from 4.55 million in May.
• Also at 10:00 AM, Philly Fed Survey for July will be released. This survey really surprised to the downside in June, and the consensus is for a reading of -8.0, up from -16.6 last month (below zero indicates contraction).
• Also at 10:00 AM, the Conference Board Leading Indicators for June will be released. The consensus is for a 0.1% decrease in this index.
• Housing Starts increased to 760 thousand in June, Highest since October 2008
• Starts and Completions: Multi-family and Single Family
• August 1st QE3 Departure Date?