This week was a very slow one on the economic front. Below is a list of the 13 economic indicators that were released over the last four trading days. As shown, five came in stronger than expected, led by the JOLTs report on Wednesday. Five also came in weaker than expected, led by today’s much weaker than expected Michigan Confidence reading.
Hmm, is there anything important going on in financial markets next week? Oh, right, next Thursday comes the “most important Fed meeting since…” If you feel like that’s the narrative heading into every Fed meeting lately, you’re not alone. Although this one is indeed especially important because a rate hike really and truly is finally a possibility. We shall see what happens.
Along with next Thursday’s Fed decision, there are quite a few economic indicators on tap leading up to it. On Tuesday we’ll get Retail Sales for August along with Empire Manufacturing, Industrial Production and Capacity Utilization. On Wednesday we’ll get CPI and NAHB Housing, and on Thursday we’ll get Housing Starts, Building Permits, Jobless Claims and the Philly Fed in the morning before the 2 PM Fed decision. Rest up this weekend and then buckle up for the ride on Monday!
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