As traders approach another key day for the financial markets on Tuesday, December 31, 2024, a number of key economic data releases are expected that could influence market dynamics. The S&P/Case-Shiller home price index, the weekly API crude oil inventories report and the Redbook index are among the key economic indicators to be released, potentially affecting sectors ranging from real estate to energy.
Major economic events to watch
• S&P/CS HPI Composite-20 nsa (9:00 AM ET): Forecast 4.1%, Previous 4.6%. It measures the change in the selling price of single-family homes in 20 metropolitan areas.
Other important economic events to watch
• API Weekly Crude Oil Inventories (4:30 PM ET): Previously -4,700M. Reports on US inventory levels, gasoline and distillate inventories.
Other economic events to watch
• Redbook (8:55 AM ET): Previously 5.9%. A sales-weighted index of year-over-year same-store sales growth at large U.S. general merchandise retailers.
• Home Price Index (9:00 a.m. ET): Previous 4.4%. It reflects the average change in house prices across the country.
• Home Price Index (9:00 AM ET): Forecast 0.5%, Previous 0.7%. A broad measure of the prices of single-family homes with mortgages Fannie Mae (OTC:) or Freddie Mac (OTC:).
• S&P/CS HPI Composite – 8 p.m. (9:00 a.m. ET): Previous 0.2%. It reflects the average change in house prices in the country or specific areas.
• Monthly Home Price Index (9:00 a.m. ET): Previous 430.3. It tracks changes in the value of single-family homes in the US
• S&P/CS HPI Composite-20 nsa (9:00 AM ET): Previously -0.4%. It tracks repeat home sales using a modified version of the weighted repeat sales methodology.
• Dallas Fed Services Revenues (10:30 AM ET): Previous 10.9. A survey-based index that calculates changes in service sector income.
• Texas Services Sector Outlook (10:30 a.m. ET): Previous 9/8. A survey-based index reflecting changes in the Texas service sector.
For additional information and the latest updates, see our economic calendar, here.
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