Week 28 of the 2020 U.S. Economic Calendar highlights weekly employment, CoreLogic house pricing, and a Consumer Credit report from the Fed.
Last week’s market recap:
July 4th weekend has come-and-gone in the United States.
The biggest headlines featuring COVID-19 included record-breaking cases in Florida and hospitals reaching ICU capacity in Houston. Neither location will see new COVID-19 patients resulting from July 4th gatherings for another 1-2 weeks to account for the virus’ incubation period.
Despite rising numbers, the DOW and S&P 500 nudged positive before the holiday weekend. The equity markets will look to find a consistent pattern in the week ahead.
Here are your key economic updates for the week ahead, July 6 – July 10:
Monday, July 6
- ISM Non-Manufacturing data – consensus is 50.0 up from 45.4
Tuesday, July 7
- Job Openings and Labor Turnover Survey from the Bureau of Labor Statistics
- CoreLogic house price index for May
Wednesday, July 8
- MBA will release mortgage purchase applications index
- Consumer Credit report from the Federal Reserve
Thursday, July 9
- Weekly unemployment claims – consensus is 1.400 million, down from last week’s 1.427 million claims. Consensus estimates have missed the last two weeks (trending higher).
Friday, July 10
- Producer Price Index for May from the BLS. Consensus is a 0.4% increase in PPI and a 0.1% increase in core PPI.