As the financial markets gear up for another crucial day on Tuesday, December 31, 2024, traders are anticipating a series of vital economic data releases that could significantly impact market dynamics. The upcoming release of key economic indicators such as the S&P/Case-Shiller House Price Index, API Weekly Crude Stock report, and Redbook Index has the potential to influence various sectors ranging from real estate to energy.
Key Economic Events to Monitor
• S&P/CS HPI Composite-20 n.s.a. (9:00 AM ET): Forecast 4.1%, Previous 4.6%. This index measures the change in the selling price of single-family homes in 20 metropolitan areas.
Other Significant Economic Events to Watch
• API Weekly Crude Stock (4:30 PM ET): Previous -4.700M. This report provides insights into the inventory levels of US crude oil, gasoline, and distillates stocks.
Additional Economic Events to Keep an Eye On
• Redbook (8:55 AM ET): Previous 5.9%. This index is a sales-weighted measure of year-over-year same-store sales growth in major US general merchandise retailers.
• House Price Index (9:00 AM ET): Previous 4.4%. This index reflects the average change in house prices across the country.
• House Price Index (9:00 AM ET): Forecast 0.5%, Previous 0.7%. It is a broad measure of single-family house prices with mortgages backed by Fannie Mae or Freddie Mac.
• S&P/CS HPI Composite – 20 s.a. (9:00 AM ET): Previous 0.2%. This index reflects the average change in house prices nationwide or in specific areas.
• Monthly Home Price Index (9:00 AM ET): Previous 430.3. This index captures changes in the value of single-family homes in the US.
• S&P/CS HPI Composite-20 n.s.a. (9:00 AM ET): Previous -0.4%. This index tracks repeat sales of houses using a modified version of the weighted-repeat sales methodology.
• Dallas Fed Services Revenues (10:30 AM ET): Previous 10.9. This survey-based index calculates changes in services sector revenues.
• Texas Services Sector Outlook (10:30 AM ET): Previous 9.8. This survey-based index reflects changes in the Texas services sector.
For more information and the latest updates, please consult our Economic Calendar here.
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