Traders are gearing up for a significant day in the financial markets as a range of important economic data is set to be released on Thursday, October 24, 2024. This data includes key indicators such as initial jobless claims, manufacturing and services PMIs, building permits, and new home sales figures. These releases have the potential to impact investor sentiment and market direction.
Notable Economic Events on the Horizon
- 8:30 AM ET: Initial Jobless Claims (Forecast: 243K, Previous: 241K) – Weekly measure of first-time unemployment insurance claims.
- 8:30 AM ET: Building Permits (Forecast: 1.428M, Previous: 1.470M) – Indicator of future construction activity.
- 9:45 AM ET: Manufacturing PMI (Forecast: 47.5, Previous: 47.3) – Gauge of manufacturing sector activity.
- 9:45 AM ET: Services PMI (Forecast: 55.0, Previous: 55.2) – Assessment of the services sector performance.
- 10:00 AM ET: New Home Sales (Forecast: 719K, Previous: 716K) – Measure of new single-family home sales.
Other Important Economic Events to Note
- 8:30 AM ET: Continuing Jobless Claims (Forecast: 1,880K, Previous: 1,867K) – Tracks ongoing unemployment benefit claims.
- 8:30 AM ET: Building Permits (Forecast: -2.9%, Previous: 4.6%) – Month-over-month percentage change in building permits issued.
- 9:45 AM ET: S&P Global Composite PMI (Previous: 54.0) – Comprehensive measure of overall economic activity.
- 10:00 AM ET: New Home Sales (Previous: -4.7%) – Month-over-month percentage change in new home sales.
- 1:00 PM ET: 5-Year TIP Auction (Previous: 2.050%) – Treasury Inflation-Protected Securities auction results.
- 4:30 PM ET: Fed’s Balance Sheet (Previous: 7,039B) – Weekly update on the Federal Reserve’s assets and liabilities.
- 4:30 PM ET: Reserve balances with Federal Reserve Banks (Previous: 3.229T) – Depository institutions’ account balances at the Fed.
Additional Economic Events of Interest
- 6:00 AM ET: IMF Meetings – Annual gathering of global financial leaders to discuss economic issues.
- 8:30 AM ET: Chicago Fed National Activity (Previous: 0.12) – Monthly index tracking economic activity in the Chicago Fed district.
- 8:30 AM ET: Jobless Claims 4-Week Avg. (Previous: 236.25K) – Smoother measure of unemployment claims trends.
- 10:30 AM ET: Natural Gas Storage (Forecast: 61B, Previous: 76B) – Weekly change in inventories.
- 11:00 AM ET: KC Fed Manufacturing Index (Previous: -18) – Measure of manufacturing activity in the Kansas City Fed district.
- 11:00 AM ET: KC Fed Composite Index (Previous: -8) – Overall economic activity index for the Kansas City Fed region.
- 11:30 AM ET: 4-Week Bill Auction (Previous: 4.700%) – Results of the short-term Treasury bill auction.
- 11:30 AM ET: 8-Week Bill Auction (Previous: 4.630%) – Results of the slightly longer-term Treasury bill auction.
For the latest updates and more information, please consult our Economic Calendar here.
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