Initial jobless claims, PMI data and existing home sales are in the spotlight Thursday by Investing.com

As traders approach another pivotal day for the financial markets, Thursday, August 22, 2024 brings a series of crucial economic data that could influence market dynamics. The focus will be on initial jobless claims, manufacturing and services PMI data and existing home sales figures, all of which have the potential to influence investor sentiment and market direction.

Major economic events to watch

• 8:30 AM ET – Initial Jobless Claims: Expected at 232K, previously 227K. It measures unemployment insurance claims for the first time.

• 9:45 AM ET – Manufacturing PMI: Forecast at 49.5, previously 49.6. It indicates the activity of the production sector.

• 9:45 AM ET – Services PMI: Anticipated at 54.0, previously 55.0. It reflects the performance of the services sector.

• 10:00 AM ET – Existing home sales: Estimated at 3.93 million, previously 3.89 million. It measures the strength of the real estate market.

Other important economic events to watch

• 7:00 AM ET – Jackson Hole Symposium: Annual gathering of central bankers and financial experts.

• 8:30 AM ET – Jobless claims continued: Estimated at 1,870,000, previously 1,864,000. It measures ongoing jobless claims.

• 9:45 a.m. ET – S&P Global Composite PMI: Forecast at 53.5, previously 54.3. It combines data from the manufacturing and service sectors.

• 10:00 AM ET – Sales of Existing Homes (MoM): Previous -5.4%. Shows the monthly change in existing home sales.

• 1:00 PM ET – 30-Year TIPS Auction: Previous Yield 2,200%. Treasury Inflation-Protected Securities Auction.

• 4:30 PM ET – Fed balance sheet: $7.178 billion previously. Weekly Disclosure of Federal Reserve Assets and Liabilities.

• 4:30 PM ET – Reserve balances at Federal Reserve Banks: Previous $3.339M. Displays depository institution reserve balances.

Other economic events to watch

• 8:30AM ET – Chicago Fed National Activity: Previous 0.05. Tracks economic activity in the 7th Federal Reserve District.

• 8:30AM ET – Jobless Claims 4-Week Average: Previous 236.50K. Standard measure of initial jobless claims.

• 10:30AM ET – Natural Gas Storage: Expected 22B, Previous -6B. It measures the change in inventories.

• 11:00 AM ET – KC Fed Composite Index: Previous -13. Indicates production activity in the Kansas City Fed district.

• 11:00 AM ET – KC Fed Manufacturing Index: Previously -12. Focuses on production in the Kansas City Fed region.

• 11:30 a.m. ET – 4-Week Bills Auction: Previous yield 5.260%. Short-Term Treasury Bill Auction.

• 11:30 a.m. ET – 8-Week Bills Auction: Previous yield 5.175%. Another short-term auction for Treasury bills.

For more information and the latest updates, please see our Economic Calendar here https://www.investing.com/economic-calendar/

This article was generated with support from AI and reviewed by an editor. For more information, see T&C.