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Monday's Market Minute: Data To Watch This Week

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Monday's Market Minute: Data To Watch This Week

We’ve got another big week ahead with a fair amount of closely-watched data to stay dialed in on – let’s take a minute to look at this week.

We inch into it with the Chicago Fed and Existing Home Sales, but things heat up from there at a rapid rate. Tuesday Redbook will provide insight about how chain store sales are weathering the storm. With businesses reopening and cities lifting stay-at-home restrictions, consumer spending reports should be closely watched. We also have New Home Sales and the Richmond Fed tomorrow. Are people still willing to purchase homes sight unseen?

Wednesday, it’s all about Crude Oil inventories: the demand narrative is the focus as we return to work and start driving more. Will inventories reflect the increase in demand? Thursday and Friday we have GDP, Durable Goods Orders, and jobless claims. We’ll close out a big week with Personal Income and Spending, Consumer Sentiment, and the weekly Baker-Hughes rigs data. With U.S. indices bid off March lows (the Nasdaq to new highs just last week), investors are looking for more information about how the consumer has been getting by. Spending habits and trends are important to investors and traders during this unprecedented time to help us put the pieces of the puzzle together and establish the bigger picture. Look at what’s happening not only here in the U.S. but globally, and the numbers this week will do just that.

Photo by lo lo on Unsplash

 

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