Seeking Alpha
What is your profession? ×
Profile| Send Message|
( followers)

By Bryan McCormick

The economic calendar is full today, with GDP, unemployment claims, consumer sentiment, housing prices, and leading indicators dominating the first hour of trading.

The final revision for third-quarter GDP will be released at 8:30 a.m. ET. Consensus calls for no change from the last reading of 2 percent. There is still quite a wide range of estimates, from a bearish 1.5 percent to a bullish 2.3 percent.

Weekly Jobless Claims data also comes out at 8:30 a.m. ET. Most economists expect 380,000 claims, but estimates range from a bullish 365,000 to a bearish 390,000.

The final revision to the Reuters/University of Michigan Consumer Sentiment Index will be reported at 9:55 a.m. ET. The consensus estimate calls for little change from the mid-month reading, with the overall index expected at 68. The range is from a more bearish 65.5 to a more bullish 69.2.

The FHFA House Price Index comes out at 10 a.m. ET. The average forecast is a slight uptick of 0.3 percent for the month. The range is from no change, which would be bearish, to a gain of 1 percent.

Leading Indicators will also be released at 10 a.m. ET. Consensus calls for a gain of 0.3 percent. Estimates range from a bearish 0.2 percent to a bullish 0.6 percent.