As traders approach another pivotal day for financial markets, a series of crucial economic data releases that could sway market dynamics are expected on Friday, October 25, 2024. The spotlight will be on durable goods orders and the University of Michigan's consumer sentiment index, both of which are key indicators of economic health and consumer confidence in the United States.
Major Economic Events to Watch
• 8:30 AM ET - Durable Goods Orders (Sep): Forecast -1.1%, Previous 0.0%. Measures the change in total value of new orders for long-lasting manufactured goods.
Other Important Economic Events to Watch
• 8:30 AM ET - Core Durable Goods Orders (Sep): Forecast -0.1%, Previous 0.5%. Measures change in new orders value, excluding transportation items.
• 10:00 AM ET - Michigan Consumer Expectations (Oct): Forecast 72.9, Previous 72.9. Final reading of consumer expectations component.
• 10:00 AM ET - Michigan Consumer Sentiment (Oct): Forecast 68.9, Previous 70.1. Final reading of overall consumer sentiment index.
• 10:30 AM ET - Atlanta Fed GDPNow (Q3): Forecast 3.4%, Previous 3.4%. Running estimate of real GDP growth for the current quarter.
• 1:00 PM ET - Baker Hughes U.S. Rig Count: Forecast 482, Previous 482. Important barometer for oil drilling industry activity.
• 1:00 PM ET - U.S. Baker Hughes Total Rig Count: Previous 585. Indicates overall drilling activity across oil and gas sectors.
• 3:30 PM ET - CFTC S&P 500 speculative positions: Previous 28.1K. Indicates market sentiment among speculative traders.
• 3:30 PM ET - CFTC Nasdaq 100 speculative positions: Previous 1.4K. Shows speculative positioning in tech-heavy index futures.
• 3:30 PM ET - CFTC Gold speculative positions: Previous 286.4K. Reflects speculative interest in gold futures.
• 3:30 PM ET - CFTC Crude Oil speculative positions: Previous 184.4K. Indicates speculative sentiment in oil markets.
Other Economic Events to Watch
• 6:00 AM ET - IMF Meetings: Annual gathering of global financial leaders to discuss economic issues.
• 8:30 AM ET - Goods Orders Non Defense Ex Air: Previous 0.3%. Measures new orders for nondefense capital goods excluding aircraft.
• 8:30 AM ET - Durables Excluding Defense: Previous -0.2%. Shows new orders for durable goods excluding defense-related items.
• 10:00 AM ET - Michigan 1-Year Inflation Expectations: Forecast 2.9%, Previous 2.7%. Measures consumer inflation expectations for the next year.
• 10:00 AM ET - Michigan Current Conditions: Forecast 62.7, Previous 63.3. Assesses consumers' views on current economic conditions.
• 10:00 AM ET - Michigan 5-Year Inflation Expectations: Forecast 3.0%, Previous 3.1%. Long-term consumer inflation expectations.
• 11:00 AM ET - Fed Collins Speaks: Remarks from Federal Reserve official may provide insights on monetary policy.
• 3:30 PM ET - Various CFTC speculative positions reports for commodities including Aluminium, Copper, Silver, Natural Gas, Wheat, Corn, and Soybeans.
For further information and the latest updates, please refer to our Economic Calendar, here.
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