Week Ahead: Housing Data, Jobless Claims and October PMIs

The U.S. economic calendar for the week beginning Monday, Oct. 19, opens with housing data and closes with business and consumer surveys. Consensus estimates and prior readings below are as listed in the FMP economic calendar.

Monday brings the NAHB Housing Market Index for October, expected at 32, matching the previous reading. On Tuesday, Oct. 20, September housing starts are forecast at 1.30 million against 1.288 million previously, about 0.9% higher; the calendar's separate month-over-month estimate is 1.9%, after a 5.9% decline. Building permits are expected at 1.39 million versus 1.403 million. Pending home sales are forecast to fall 0.5% on the month after a 0.3% gain, and to rise 1.0% from a year earlier after a 4.7% annual decline. The API crude stock report follows that evening, with a 1.3 million barrel draw expected.

On Wednesday, Oct. 21, the MBA's 30-year mortgage rate is scheduled to be updated from a prior 7.5%, and the EIA's weekly crude inventory report is expected to show a 0.8 million barrel draw after an 8.557 million barrel draw. Thursday, Oct. 22, brings weekly jobless claims: initial claims are expected at 200,000, unchanged from the prior week, and continuing claims at 1.72 million against 1.703 million.

Friday, Oct. 23, features the S&P Global PMIs for October. The composite index is expected at 57.6 versus 58.4, services at 58.0 versus 58.8 and manufacturing at 55.5 versus 55.9. The Michigan Consumer Sentiment index is forecast at 46.3, down from 48.1. CFTC positioning data close the week.

The week begins with the 10-year Treasury yield at 5.09% and the effective federal funds rate at 3.88%, according to the latest FRED observations.

Data

Data: FMP, FRED. Figures are close-to-close unless stated.