Crucial Economic Data Releases on September 4, 2024: What Investors Need to Know
As traders brace for another pivotal day in financial markets, Wednesday, September 4, 2024, is set to be a game-changer. Key economic data releases, including the JOLTs Job Openings report and Factory Orders data, are on the horizon, promising to sway investor sentiment and influence Federal Reserve policy expectations. Here’s a comprehensive look at what’s coming up and why it matters.
Major Economic Events to Watch
10:00 AM ET - JOLTs Job Openings (Aug):
- Expected: 8.090M
- Previous: 8.184M
- What It Is: This survey by the US Bureau of Labor Statistics measures job vacancies, offering insights into labor market conditions. A higher-than-expected reading signals a robust job market, potentially leading to tighter monetary policy.
10:00 AM ET - Factory Orders (Jul):
- Forecast: 4.6%
- Previous: -3.3%
- What It Is: This report measures the change in the total value of new purchase orders placed with manufacturers. A higher figure indicates stronger industrial activity and economic growth.
Other Important Economic Events
8:30 AM ET - Trade Balance (Jul):
- Expected: -$78.80B
- Previous: -$73.10B
- What It Is: Measures the difference in value between imported and exported goods and services. A larger deficit can indicate weaker economic health or higher consumer demand.
8:30 AM ET - Exports (Jul):
- Previous: $265.90B
- What It Is: Provides the total US dollar amount of merchandise exports. Higher exports contribute positively to GDP.
8:30 AM ET - Imports (Jul):
- Previous: $339.00B
- What It Is: Measures the value of goods and services brought into the US. Higher imports can indicate strong domestic demand.
12:00 PM ET - Atlanta Fed GDPNow:
- Forecast: 2.0%
- Previous: 2.0%
- What It Is: Provides a running estimate of real GDP growth for the current measured quarter. This can influence market expectations for economic performance.
2:00 PM ET - Beige Book:
- What It Is: The Federal Reserve's report on current economic conditions across the 12 Federal districts. This qualitative data can shape monetary policy decisions.
4:30 PM ET - API Weekly Crude Stock:
- Previous: -3.400M
- What It Is: Reports inventory levels of US crude oil, gasoline, and distillates stocks. Changes in inventory can impact oil prices and energy sector stocks.
Additional Economic Indicators
7:00 AM ET - MBA Mortgage Applications:
- Previous: 0.5%
- What It Is: Measures the change in the number of new mortgage applications. A rise in applications signals strong housing market activity.
7:00 AM ET - MBA 30-Year Mortgage Rate:
- Previous: 6.44%
- What It Is: Fixed 30-year mortgage lending rates for 80% loan-to-value mortgages. Lower rates can spur housing market activity.
7:00 AM ET - MBA Purchase Index:
- Previous: 131.8
- What It Is: Includes all mortgage applications for the purchase of a single-family home, indicating housing market strength.
7:00 AM ET - Mortgage Market Index:
- Previous: 226.9
- What It Is: Covers all mortgage applications during the week, providing a snapshot of mortgage activity.
7:00 AM ET - Mortgage Refinance Index:
- Previous: 753.8
- What It Is: Covers all mortgage applications to refinance an existing mortgage. High refinancing activity can indicate favorable interest rates.
8:55 AM ET - Redbook:
- Previous: 5.0%
- What It Is: Measures year-over-year same-store sales growth in a sample of large US general merchandise retailers, reflecting consumer spending trends.
10:00 AM ET - Factory Orders ex Transportation (Jul):
- Forecast: -0.2%
- Previous: 0.1%
- What It Is: Measures change in new orders excluding the transportation industry, providing a clearer picture of industrial demand.
10:00 AM ET - Durables Excluding Defense (Jul):
- Previous: 10.4%
- What It Is: Measures new orders for durable goods excluding defense-related items, indicating underlying economic strength.
10:00 AM ET - Durables Excluding Transport (Jul):
- Previous: -0.2%
- What It Is: Measures new orders for durable goods excluding transportation-related items, offering insights into business investment.
10:00 AM ET - Total Vehicle Sales (Aug):
- Expected: 15.40M
- Previous: 15.80M
- What It Is: Measures the annualized number of new vehicles sold domestically, reflecting consumer confidence and spending.
For further information and the latest updates, please refer to our Economic Calendar.
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Analysis: Breaking It Down for You
Let's simplify this:
- JOLTs Job Openings: If more jobs are available, it means companies are hiring, which is good news for the economy. But it could also mean the Federal Reserve might raise interest rates to keep inflation in check.
- Factory Orders: If factories are getting more orders, it indicates businesses are doing well. This is a positive sign for economic growth.
- Trade Balance: A higher trade deficit (more imports than exports) might indicate that the country is spending more on foreign goods, which could affect the economy negatively.
- Mortgage Applications and Rates: These give us an idea of the housing market's health. More applications and lower rates generally mean the housing market is strong.
- Redbook Sales: This shows how much people are spending at stores. Higher sales indicate that consumers are confident and willing to spend money.
- Durable Goods Orders: High orders for long-lasting goods (like cars and appliances) suggest businesses are investing and the economy is strong.
How This Affects You
- Job Seekers: More job openings mean better chances of finding a job.
- Home Buyers: Lower mortgage rates make buying a home cheaper.
- Investors: Positive economic indicators might boost stock markets, while negative ones could lead to a downturn.
- Consumers: Strong economic data generally means more job security and potentially higher wages.
Stay tuned for these crucial updates to make informed financial decisions!
This article was generated with the support of AI and reviewed by an editor. For more information, see our T&C.