Inventory Market Updates: Key Housing and Gross sales Knowledge Might Drive Markets within the Week Forward

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August 15, 2022

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In our newest weekly market assessment publish, we mentioned earnings season, the patron sentiment index and the inflation studying. Now it is time to see what the following week’s engines are.

For a full record of main inventory market occasions and updates, try our financial calendar.

Markets continued their restoration final week amid constructive macroeconomic developments, together with a robust labor market and weaker-than-expected inflation knowledge. This was the fourth consecutive week of beneficial properties for the market, not seen since October 2021.

The S&P 500 is now up 15% from its June lows, whereas the Nasdaq Index is up 20% from its lows. Markets will brace for key housing and gross sales knowledge subsequent week, which is able to decide whether or not shares proceed to rise.

FOMC assembly

The US Federal Open Market Committee (FOMC) will publish the minutes of the assembly held on Wednesday, July 26 and 27. Markets will preserve a key on the discharge for steering on broader macroeconomic knowledge, together with inflation and the recession. Moreover, market individuals may try to confer with assembly minutes to interpret the timing and tempo of additional rate of interest hikes.

retail knowledge

The US Census Bureau is ready to report July retail gross sales knowledge on Wednesday, which is able to point out whether or not client spending stays sturdy regardless of persistent inflation and deteriorating family wealth.

% change in retail and meals gross sales from April to June, Supply: US Census Bureau.

Retail gross sales in July are anticipated to rise 0.1% in comparison with June, when gross sales grew 1%, however have slowed considerably for the reason that begin of the yr as a consequence of rising inflation. Markets may even watch earnings releases from key retailers together with Walmart, Goal, Residence Depot and Lowe’s, additional reflecting client power and the affect of inflation on spending.

Housing Knowledge

The week forward is full of key housing market updates, together with new dwelling begins and present dwelling gross sales. On Wednesday, the US Census Bureau is ready to report new housing begins and constructing permits for July. Consensus forecasts present new begins are forecast to fall to 1.5 million models in July from 1.56 million in June, as housing affordability hits a 33-year low.

US Current Residence Gross sales, Supply: TradingEconomics

On Thursday, the Nationwide Affiliation of Realtors will launch present dwelling gross sales for July, that are anticipated to say no 8% from June as a mix of rising mortgage charges, hovering dwelling costs and declining affordability. The plummeting housing knowledge might point out a slowdown within the economic system and will encourage the Fed to cut back the tempo of charge hikes.

S&P 500 chart

S&P 500 chart. Supply: TradingView

Backside line

Markets have continued to rise in latest weeks on the again of sturdy financial knowledge. Key retail and residential gross sales knowledge, together with FOMC assembly minutes, might information the place shares head subsequent week.

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Stock Market Updates: Key Housing and Sales Data Could Drive Markets in the Week Ahead