As traders approach another pivotal day for financial markets, a series of crucial economic data releases that could sway market dynamics are expected on Tuesday, October 29, 2024. The spotlight will be on the JOLTs Job Openings report and the Conference Board’s Consumer Confidence index, both of which are key indicators of economic health and consumer sentiment.
Major Economic Events to Watch:
• 9:00 AM ET – JOLTs Job Openings (Sep): Expected 7.920M, Previous 8.040M. This survey measures job vacancies and provides insights into labor market conditions.
• 10:00 AM ET – CB Consumer Confidence (Oct): Forecast 99.2, Previous 98.7. This index gauges consumer optimism about the economy and can predict consumer spending patterns.
Other Important Economic Events to Watch:
• 8:30 AM ET – Goods Trade Balance (Sep): Forecast -$96.10B, Previous -$94.22B. Measures the difference in value between imported and exported goods.
• 9:00 AM ET – S&P/CS HPI Composite-20 n.s.a. (YoY) (Aug): Expected 4.6%, Previous 5.9%. Tracks changes in residential real estate prices across 20 metropolitan regions.
• 10:30 AM ET – Atlanta Fed GDPNow (Q3): Forecast 3.3%, Previous 3.3%. Provides a running estimate of real GDP growth based on available economic data.
• 1:00 PM ET – 7-Year Note Auction: Previous yield 3.668%. Indicates investor demand for medium-term government debt.
• 4:30 PM ET – API Weekly Crude Stock: Previous 1.643M. Offers insights into U.S. petroleum demand and inventory levels.
Other Economic Events to Watch:
• 8:30 AM ET – Wholesale Inventories (MoM) (Sep): Expected 0.2%, Previous 0.1%. Measures change in total value of goods held by wholesalers.
• 8:55 AM ET – Redbook (YoY): Previous 4.6%. Tracks year-over-year same-store sales growth in large U.S. general merchandise retailers.
• 9:00 AM ET – House Price Index (MoM) (Aug): Forecast 0.2%, Previous 0.1%. Broad measure of single-family house price movements.
• 10:30 AM ET – Dallas Fed Services Revenues (Oct): Previous 10.1. Indicates changes in service sector revenues in Texas.
• 11:30 AM ET – 52-Week Bill Auction: Previous yield 3.780%. Shows investor appetite for short-term government securities.
For further information and the latest updates, please refer to our Economic Calendar, here.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
