Previewing Case-Shiller

On Tuesday the Case-Shiller on home prices in the US will be released. All the data is set to be released at 9am, and may give market participants a look at how the US economy is fairing—at least from the perspective of home prices. The S&P/Case-Shiller Composite-20 Year over Year for the period of September is estimated to come in at (3.00)%. The reading for the prior period was (3.80)%. The S&P/Case-Shiller 20 City Month over Month for the period of September is estimated to come in unchanged, while the reading for the prior period was (0.05)%. The S&P/CaseShiller Home Price Index for the period of September has no estimates, but came in at 142.84 for the prior period. As these numbers will be released before the open on Tuesday, their effects on the market should largely be baked into the open. Regardless of how the data is reported, will it have a major affect on the market? New home sales figures came in on Monday and were slightly disappointing. New home sales reported at 307k versus an estimated 315k. Ultimately, macro trends emanating from Europe may have a more powerful affect on stocks than Case-Shiller data. Still, the data could have an effect on certain sectors like the homebuilders. It will be interesting to see what the data brings.