Wednesday, October 19, 2016

Thursday: Existing Home Sales, Unemployment Claims, Philly Fed Mfg

by Bill McBride on 10/19/2016 06:11:00 PM

Tonight (Wednesday) from 9:00 PM to 10:30 PM ET: the Third Presidential Debate, at University of Nevada, Las Vegas, Las Vegas, NV

From Politifact PolitiFact’s guide to the third presidential debate

• At 8:30 AM ET, The initial weekly unemployment claims report will be released.  The consensus is for 250 thousand initial claims, up from 246 thousand the previous week.  Note: I expect a larger increase in claims than the consensus due to Hurricane Matthew - maybe closer to 300 thousand.

• Also at 8:30 AM, the Philly Fed manufacturing survey for October. The consensus is for a reading of 7.0, down from 12.8.

• At 10:00 AM, Existing Home Sales for September from the National Association of Realtors (NAR).  The consensus is for 5.35 million SAAR, up from 5.33 million in August. Housing economist Tom Lawler expects the NAR to report sales of 5.55 million SAAR.