Market Alert: Key Economic Indicators and Fed Actions to Impact Financial Markets on September 26, 2024
As the financial markets brace for another pivotal day, traders and investors should keep a close eye on a series of crucial economic data releases and Federal Reserve announcements slated for Thursday, September 26, 2024. With significant implications for market dynamics, these events include GDP reports, durable goods orders, initial jobless claims, and a highly anticipated speech from Federal Reserve Chair Jerome Powell.
Major Economic Events to Watch:
1. GDP (Q2)
- Time: 8:30 AM ET
- Forecast: 3.0%
- Previous: 1.4%
- What It Measures: Annualized change in the inflation-adjusted value of all goods and services produced by the economy.
2. Durable Goods Orders (Aug)
- Time: 8:30 AM ET
- Forecast: -2.8%
- Previous: 9.9%
- What It Measures: Change in the total value of new orders for long-lasting manufactured goods.
3. Initial Jobless Claims
- Time: 8:30 AM ET
- Forecast: 224K
- Previous: 219K
- What It Measures: Number of individuals who filed for unemployment insurance for the first time during the past week.
4. Fed Chair Powell Speaks
- Time: 9:20 AM ET
- What It Means: Traders closely monitor Powell's speeches for hints regarding future monetary policy.
5. Pending Home Sales (Aug)
- Time: 10:00 AM ET
- Forecast: 0.9%
- Previous: -5.5%
- What It Measures: Change in the number of homes under contract to be sold but still awaiting the closing transaction.
Other Important Economic Events to Watch:
- GDP Price Index (Q2)
- Time: 8:30 AM ET
- Forecast: 2.5%
- Previous: 3.1%
- Core PCE Prices (Q2)
- Time: 8:30 AM ET
- Forecast: 2.80%
- Previous: 3.70%
- Core Durable Goods Orders (Aug)
- Time: 8:30 AM ET
- Forecast: 0.1%
- Previous: -0.2%
- Continuing Jobless Claims
- Time: 8:30 AM ET
- Previous: 1,829K
- FOMC Member Bowman Speaks
- Time: 9:15 AM ET
- FOMC Member Williams Speaks
- Time: 9:25 AM ET
- Fed Vice Chair for Supervision Barr Speaks
- Time: 10:30 AM ET
- Treasury Secretary Yellen Speaks
- Time: 11:15 AM ET
- 7-Year Note Auction
- Time: 1:00 PM ET
- Previous: 3.770%
- FOMC Member Kashkari Speaks
- Time: 1:00 PM ET
- Fed's Balance Sheet
- Time: 4:30 PM ET
- Previous: 7,109B
- Reserve balances with Federal Reserve Banks
- Time: 4:30 PM ET
- Previous: 3.217T
Additional Economic Indicators:
- GDP Sales (Q2)
- Time: 8:30 AM ET
- Forecast: 2.2%
- Previous: 1.8%
- Real Consumer Spending (Q2)
- Time: 8:30 AM ET
- Forecast: 2.9%
- Previous: 1.5%
- PCE Prices (Q2)
- Time: 8:30 AM ET
- Forecast: 2.5%
- Previous: 3.4%
- Goods Orders Non Defense Ex Air (Aug)
- Time: 8:30 AM ET
- Forecast: 0.0%
- Previous: -0.1%
- Durables Excluding Defense (Aug)
- Time: 8:30 AM ET
- Previous: 10.3%
- Corporate Profits (Q2)
- Time: 8:30 AM ET
- Forecast: 1.7%
- Previous: -2.7%
- Jobless Claims 4-Week Avg.
- Time: 8:30 AM ET
- Previous: 227.50K
- Fed Collins Speaks
- Time: 9:10 AM ET
- FOMC Member Kugler Speaks
- Time: 9:10 AM ET
- Pending Home Sales Index
- Time: 10:00 AM ET
- Previous: 70.2
- Natural Gas Storage
- Time: 10:30 AM ET
- Forecast: 52B
- Previous: 58B
- Fed Governor Cook Speaks
- Time: 10:30 AM ET
- KC Fed Composite Index
- Time: 11:00 AM ET
- Previous: -3
- KC Fed Manufacturing Index
- Time: 11:00 AM ET
- Previous: 6
- 4-Week Bill Auction
- Time: 11:30 AM ET
- Previous: 4.700%
- 8-Week Bill Auction
- Time: 11:30 AM ET
- Previous: 4.690%
- Fed Governor Cook Speaks (Again)
- Time: 6:00 PM ET
For the latest updates and further information, please refer to our comprehensive Economic Calendar [here].
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Analysis: What This Means for You and Your Finances
This all may seem like a lot of jargon, but let's break it down:
- GDP (Gross Domestic Product): This is the primary measure of the economy's health. If GDP is up, it generally means businesses are doing well, jobs are being created, and people are spending money. A significant increase above the forecast could boost investor confidence, leading to higher stock prices.
- Durable Goods Orders: These are big-ticket items like cars and appliances that last a long time. A drop in durable goods orders might indicate that businesses and consumers are tightening their belts, which could be a red flag for economic slowdown.
- Initial Jobless Claims: This tells us how many people are filing for unemployment for the first time. An increase could indicate a weakening job market, which might make investors nervous and affect your investments.
- Federal Reserve Chair's Speech: Jerome Powell's words are scrutinized because they can offer clues about future interest rates and monetary policy. If he hints at raising rates, it might make borrowing more expensive, affecting everything from mortgages to business loans.
- Pending Home Sales: This is a forward-looking indicator of housing market health. If more homes are under contract, it generally means a strong housing market, which is good for the economy.
Understanding these indicators can help you make informed decisions about your investments, spending, and savings. Keep an eye on these metrics to gauge the economic climate and adjust your financial strategies accordingly.
For more real-time updates and insights, make sure to keep an eye on our Economic Calendar. This could be the difference between making a profit or a loss in your investments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.