Keep your eyes on these 3 economic events that are likely to move the markets. Remember that the markets are closed on Monday in honor of Martin Luther King, Jr. Day.
Follow TipRanks’ Economic Calendar regularly, and never miss an economic event.
- Retail Sales M/M – Wednesday, 1/18/2023 – Month-over-month retail sales are a significant economic indicator, showing the level of consumer demand for finished goods. As the measure omits food and services, it signals only discretionary spending by consumers. Current estimates show m/m retails sales rising by 0.8%; last month, the number was 0.6%. If this measure has risen, it means people have extra money to spend, and are feeling confident enough to spend it. That could be a positive sign for the economy, and for your portfolio.
- Initial Jobless Claims – Thursday, 1/19/2023 – Initial Jobless Claims show how many new applications for government unemployment benefits have been initiated in the past week. This indicator demonstrates the state of employment and the general economy in the U.S. With multiple layoffs in the tech sector having been reported recently, the number might be rising – the estimated number is 212, while the previous number was 205. The fed generally looks for increased unemployment as a sign of slowing inflation, so a higher Initial Jobless Claims report could portend reduced interest rate hikes.
- Building Permits M/M – Thursday, 1/19/2023 – The Building Permits month-over-month index provides statistics about new, privately-owned residential construction. The number of new permits implies the amount of financial investments in construction, the level of employment in the building industry, and the quantities of purchases of construction materials. When building permits m/m increase, it could indicate a strengthening economy, which is generally a good sign for your portfolio. Last month’s Building Permits number was 1.342, and the estimate for this month is 1.37.
