Saturday, December 19, 2015

Schedule for Week of December 20th

by Bill McBride on 12/19/2015 08:21:00 AM

The key reports this week are the third estimate of Q3 GDP, November New Home sales, November Existing Home Sales, and November personal income and outlays.

Merry Christmas and Happy Holidays to All!

----- Monday, December 21st -----

8:30 AM ET: Chicago Fed National Activity Index for November. This is a composite index of other data.

----- Tuesday, December 22nd -----

8:30 AM ET: Gross Domestic Product, 3rd quarter 2015 (Third estimate). The consensus is that real GDP increased 2.0% annualized in Q3, revised down from the second estimate of 2.1%.

9:00 AM: FHFA House Price Index for October 2015. This was originally a GSE only repeat sales, however there is also an expanded index.  The consensus is for a 0.4% month-to-month increase for this index.

Existing Home Sales10:00 AM: Existing Home Sales for November from the National Association of Realtors (NAR). The consensus is for 5.32 million SAAR, down from 5.36 million in October.

Economist Tom Lawler estimates the NAR will report sales of 4.97 million SAAR.

A key will be the reported year-over-year change in inventory of homes for sale.

10:00 AM: Richmond Fed Survey of Manufacturing Activity for December.

----- Wednesday, December 23d -----

7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

8:30 AM: Durable Goods Orders for November from the Census Bureau. The consensus is for a 0.5% decrease in durable goods orders.

8:30 AM ET: Personal Income and Outlays for November. The consensus is for a 0.2% increase in personal income, and for a 0.3% increase in personal spending. And for the Core PCE price index to increase 0.1%.

New Home Sales10:00 AM: New Home Sales for November from the Census Bureau.

This graph shows New Home Sales since 1963. The dashed line is the August sales rate.

The consensus is for a increase in sales to 503 thousand Seasonally Adjusted Annual Rate (SAAR) in November from 495 thousand in October.

10:00 AM: University of Michigan's Consumer sentiment index (final for December). The consensus is for a reading of 91.9, up from the preliminary reading 91.8.

----- Thursday, December 24th -----

8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for 270 thousand initial claims, down from 171 thousand the previous week.

The NYSE and the NASDAQ will close at 1:00 PM ET.

----- Friday, December 25th -----

All US markets will be closed in observance of the Christmas Holiday.