GDP, Labor, Consumer, Data On Docket

by: optionMONSTER

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.