Monday, January 21, 2013

Tuesday: Existing Home Sales

by Bill McBride on 1/21/2013 09:16:00 PM

The Asian markets are mixed tonight with the Nikkei index up 0.3% and the Shanghai Composite index down slightly.

From CNBC: Pre-Market Data and Bloomberg futures: the S&P and DOW futures are up slightly (fair value).

Oil prices have moved up recently with WTI futures at $95.41 per barrel and Brent at 111.88 per barrel. Gasoline prices are moving sideways.

Tuesday economic releases:
• At 8:30 AM ET, Chicago Fed National Activity Index for December. This is a composite index of other data.

• At 10:00 AM, Existing Home Sales for December from the National Association of Realtors (NAR). The consensus is for sales of 5.10 million on seasonally adjusted annual rate (SAAR) basis. Economist Tom Lawler estimates the NAR will report sales at 4.97 million SAAR.

• Also at 10:00 AM, the Richmond Fed Survey of Manufacturing Activity for January. The consensus is for a a reading of 5 for this survey, unchanged from December (Above zero is expansion).

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