OK so today probably won’t have quite the same excitement as yesterday — Fed day — but we’re jumping right back into learning more about how the US economy is doing.
From Calculated Risk, here are the three big datapoints coming out today:
• At 8:30 AM, the initial weekly unemployment claims report will be released. The consensus is for claims to decrease to 337 thousand from 368 thousand last week.
• At 10:00 AM, Existing Home Sales for November from the National Association of Realtors (NAR). The consensus is for sales of 5.02 million on seasonally adjusted annual rate (SAAR) basis. Sales in October were at a 5.12 million SAAR. Economist Tom Lawler is forecasting the NAR will report sales of 4.98 million SAAR in November.
• Also at 10:00 AM, the Philly Fed manufacturing survey for December. The consensus is for a reading of 10.0, up from 6.5 last month (above zero indicates expansion).
All three of these datapoints are fairly “top shelf” from our perspective, in that they tell us a lot and we pay close attention to them