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Saturday, June 24, 2023

Schedule for Week of June 25, 2023

by Calculated Risk on 6/24/2023 08:11:00 AM

The key reports this week are May New Home sales, the third estimate of Q1 GDP, Personal Income and Outlays for May and April Case-Shiller house prices.

For manufacturing, the June Richmond and Dallas Fed manufacturing surveys will be released.

----- Monday, June 26th -----

10:30 AM: Dallas Fed Survey of Manufacturing Activity for June.

----- Tuesday, June 27th -----

8:30 AM: Durable Goods Orders for May from the Census Bureau. The consensus is for a 1.3% decrease in durable goods orders.

Case-Shiller House Prices Indices9:00 AM: S&P/Case-Shiller House Price Index for April.

This graph shows the year-over-year change in the seasonally adjusted National Index, Composite 10 and Composite 20 indexes through the most recent report (the Composite 20 was started in January 2000).

The consensus is for a 1.1% year-over-year decrease in the Comp 20 index for April.

9:00 AM: FHFA House Price Index for April. This was originally a GSE only repeat sales, however there is also an expanded index.

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

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

The consensus is for 657 thousand SAAR, down from 683 thousand in April.

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

----- Wednesday, June 28th -----

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

9:30 AM: Discussion, Fed Chair Jerome Powell, Policy Panel Discussion, At the European Central Bank (ECB) Forum on Central Banking 2023, Sintra, Portugal

4:30 PM: Fed Bank Stress Test Results

----- Thursday, June 29th -----

2:30 AM: Discussion, Fed Chair Jerome Powell, Dialogue with Bank of Spain Governor Pablo Hernández de Cos, At the Banco de España Fourth Conference on Financial Stability, Madrid, Spain

8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for 266 thousand initial claims, up from 264 thousand last week.

8:30 AM: Gross Domestic Product, 1st quarter 2023 (Third estimate). The consensus is that real GDP increased 1.4% annualized in Q1, up from the second estimate of a 1.3% increase.

10:00 AM: Pending Home Sales Index for May. The consensus is for a 0.3% decrease in the index.

----- Friday, June 30th -----

8:30 AM ET: Personal Income and Outlays, May 2023. The consensus is for a 0.4% increase in personal income, and for a 0.2% increase in personal spending. And for the Core PCE price index to increase 0.4%.  PCE prices are expected to be up 3.8% YoY, and core PCE prices up 4.7% YoY.

9:45 AM: Chicago Purchasing Managers Index for June.

10:00 AM: University of Michigan's Consumer sentiment index (Final for June). The consensus is for a reading of 63.9.