Inventory Market Updates: Key Housing and Gross sales Information May Drive Markets within the Week Forward

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August 15, 2022

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In our newest weekly market assessment publish, we mentioned earnings season, the patron sentiment index and the inflation studying. Now it is time to see what the following week’s engines are.

For a full listing of main inventory market occasions and updates, try our financial calendar.

Markets continued their restoration final week amid constructive macroeconomic developments, together with a robust labor market and weaker-than-expected inflation knowledge. This was the fourth consecutive week of positive aspects for the market, not seen since October 2021.

The S&P 500 is now up 15% from its June lows, whereas the Nasdaq Index is up 20% from its lows. Markets will brace for key housing and gross sales knowledge subsequent week, which can decide whether or not shares proceed to rise.

FOMC assembly

The US Federal Open Market Committee (FOMC) will publish the minutes of the assembly held on Wednesday, July 26 and 27. Markets will maintain a key on the discharge for steering on broader macroeconomic knowledge, together with inflation and the recession. Moreover, market contributors may additionally try and confer with assembly minutes to interpret the timing and tempo of additional rate of interest hikes.

retail knowledge

The US Census Bureau is about to report July retail gross sales knowledge on Wednesday, which can point out whether or not client spending stays robust regardless of persistent inflation and deteriorating family wealth.

% change in retail and meals gross sales from April to June, Supply: US Census Bureau.

Retail gross sales in July are anticipated to rise 0.1% in comparison with June, when gross sales grew 1%, however have slowed considerably because the begin of the 12 months resulting from rising inflation. Markets may even watch earnings releases from key retailers together with Walmart, Goal, House Depot and Lowe’s, additional reflecting client power and the affect of inflation on spending.

Housing Information

The week forward is filled with key housing market updates, together with new residence begins and current residence gross sales. On Wednesday, the US Census Bureau is about to report new housing begins and constructing permits for July. Consensus forecasts present new begins are forecast to fall to 1.5 million models in July from 1.56 million in June, as housing affordability hits a 33-year low.

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US Present House Gross sales, Supply: TradingEconomics

On Thursday, the Nationwide Affiliation of Realtors will launch current residence gross sales for July, that are anticipated to say no 8% from June as a mixture of rising mortgage charges, hovering residence costs and declining affordability. The plummeting housing knowledge might point out a slowdown within the financial system and will encourage the Fed to cut back the tempo of charge hikes.

S&P 500 chart

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S&P 500 chart. Supply: TradingView

Backside line

Markets have continued to rise in latest weeks on the again of robust financial knowledge. Key retail and residential gross sales knowledge, together with FOMC assembly minutes, might information the place shares head subsequent week.

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Stock Market Updates: Key Housing and Sales Data Could Drive Markets in the Week Ahead