Weekly Calendar 07/25~07/29/2016The Calendar
We have a pretty big week for economic data, featuring the FOMC decision. While I watch everything, I highlight only the most important items in WTWA. It is important to focus.
The “A” List
- FOMC rate decision (W). A rate increase is not expected; the statement will get close attention.
- Consumer confidence (T). Conference board version is an indicator for jobs and spending.
- Michigan sentiment (F). Unlike conference board, has a panel component.
- GDP (F). First read on Q2 – big rebound expected.
- New home sales (T). Important economic sector. Can the growth continue?
- Initial claims (Th). The best concurrent indicator for employment trends.
The “B” List
- Pending home sales (W). Less important for the economy than new construction, but a good read on the overall market.
- Chicago PMI (F). An early read on next week’s ISM number.
- Durable goods (W). Volatile June data, but the trend is important.
- Employment cost index (F). Q2 data. Wage growth confirmed?
- Crude inventories (W). Often has a significant impact on oil markets, a focal point for traders of everything.
The big story will still be corporate earnings. The Democratic Convention will grab plenty of news. FedSpeak is on hold for the FOMC meeting, but there are some Friday appearances.
