Weekly Calendar 08/29~09/02/2016
The Calendar
We have a huge week for economic data. While personally I watch everything on the calendar, you do not need to! I highlight only the most important items in WTWA. Focus is essential.
The “A” List
- Employment situation (F). Another strong report? Will this tip Fed policy into a rate increase?
- ISM index (Th). Great concurrent read on the overall economy with some leading aspects.
- Personal income and spending (M). You have to earn it before you can spend it! July data, but both are important.
- Consumer confidence (T). The Conference Board version helps to assess both job creation and spending plans.
- Auto sales (Th). One of the best non-government reads on the economy.
- Core PCE prices (M). This – not CPI – is the measure the Fed uses to evaluate the 2% inflation target.
- Initial claims (Th). The best concurrent indicator for employment trends, but less attention during “employment week.”
The “B” List
- ADP employment change (W). A good independent indicator of private employment growth. Deserves more respect.
- Pending home sales (W). Everything about the housing market is important, but pending sales are a bit less significant than other measures.
- Chicago PMI (W). The most important of the regional measures.
- Construction spending (Th). Volatile July data is important for the long-term trend.
- Trade balance (F). July data, widely misunderstood, but important for Q2 GDP.
- Crude inventories (W). Often has a significant impact on oil markets, a focal point for traders of everything.
The big news is the employment situation reports, especially coming right before Labor Day.
