U.S. stocks closed lower on Wednesday with the Nasdaq Composite dropping around 90 points amid a decline in Amazon.com, Inc. AMZN shares.
Let’s have a look at the major economic events scheduled for today.
- Data on initial jobless claims for the latest week will be released at 7:00 a.m. ET. Jobless claims are projected to come in at 235,000 for the October 15 week compared to 228,000 in the previous week.
- The Philadelphia Fed manufacturing index for October is scheduled for release at 8:30 a.m. ET. The Philadelphia Fed manufacturing index is expected to improve slightly to minus 5.0 in October from prior reading of minus 9.9.
- Data on existing home sales for September will be released at 10:00 a.m. ET. Analysts expect existing home sales contracting to a 4.695 million annualized rate in September from 4.800 million in the previous month.
- The index of leading economic indicators for September is scheduled for release at 10:00 a.m. ET. Analysts expect the index declining 0.3% month-over-month in September.
- The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.
- The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.
- Philadelphia Fed President Patrick Harker is set to speak at 12:00 p.m. ET.
- Federal Reserve Governor Philip Jefferson will speak at 1:30 p.m. ET.
- Federal Reserve Governor Lisa Cook is set to speak at 1:45 p.m. ET.
- Federal Reserve Governor Michelle Bowman will speak at 2:05 p.m. ET.
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