Consumer Confidence and Housing Data in Focus This Tuesday

As traders prepare for another significant day in the financial markets on Tuesday, September 24, 2024, several key economic data releases are anticipated that could impact market dynamics. Attention will particularly focus on consumer confidence numbers, which often act as indicators for future consumer spending and the overall economic landscape.

Key Economic Events to Monitor:

• 10:00 AM ET – CB Consumer Confidence (Sep): Expected to be 103.5, up from the previous 103.3. This crucial indicator gauges consumer optimism about the economy and can foresee future spending trends.

Additional Economic Events to Consider:

• 9:00 AM ET – S&P/CS HPI Composite-20 n.s.a. (Jul): Anticipated at 5.9%, down from 6.5%. This index measures changes in residential real estate prices across 20 major metropolitan areas.

• 9:00 AM ET – FOMC Member Bowman Speaks: Her comments may provide insight into upcoming monetary policy decisions.

• 1:00 PM ET – 2-Year Note Auction: Previous yield was 3.874%. This auction helps gauge investor interest in short-term government debt.

• 4:30 PM ET – API Weekly Crude Stock: Previous inventory level reported at 1.960M. This information gives a look into U.S. oil inventory levels and demand trends.

Other Noteworthy Economic Releases:

• 8:55 AM ET – Redbook (YoY): Previous year-over-year sales growth was 4.6%. This index tracks same-store sales growth among major U.S. retailers.

• 9:00 AM ET – S&P/CS HPI Composite-20 n.s.a. (MoM): Previous change recorded at 0.6%, measuring monthly variations in home prices across 20 metropolitan regions.

• 9:00 AM ET – House Price Index (YoY): Previous figure was 5.1%, reflecting average changes in house prices nationally.

• 9:00 AM ET – Monthly Home Price Index: Previous figure stood at 424.5, indicating changes in single-family home values across the country.

• 9:00 AM ET – S&P/CS HPI Composite – 20 s.a. (MoM): Previous month-over-month change was 0.4%, seasonally adjusted for home prices in 20 metropolitan areas.

• 9:00 AM ET – House Price Index (MoM): Expected at 0.2%, with the previous figure at -0.1%, representing monthly changes in single-family home values backed by government-sponsored enterprises.

• 10:00 AM ET – Richmond Services Index: Previous report was -11, measuring business activity in the services sector of the Fifth Federal Reserve District.

• 10:00 AM ET – Richmond Manufacturing Index: Anticipated to be -17, improved from the previous -19, indicating manufacturing conditions in the Richmond area.

• 10:00 AM ET – Richmond Manufacturing Shipments: Previous report reflected -15, measuring changes in manufacturing shipments in the region.

• 1:00 PM ET – US M2 Money Supply: Previous measurement reported was 21.05 trillion, including financial assets primarily held by households.

This information serves to keep traders and investors informed about the key economic indicators that could shape market movements on this critical day.