A Look At Thursday’s Market Events
$SNE, $COP, $GG, $CME,
Q-4 is almost 33% completed, and the market attention Thursday will focus on the advance estimate for Q-3 GDP. Market expectations are low ahead of the report.
I. Advance Estimate for Q-3 GDP (08:30a ET)
Why it is important
- The GDP report is the broadest measure of US economic activity
- Although dated the trends seen in the advance GDP report will influence market thinking about the path forward for many important market drivers, namely consumer spending, business spending, trade, and monetary policy
- Q-2 GDP increased at an annual rate of 3.9%, yet it is believed that Q-3 GDP slowed markedly from Q-2, demonstrating that the US economy has yet to hit escape velocity
What is expected?
- Atlanta Fed’s GDPNow model: 0.8%
- Consensus: 1.6%
- Forecast: 2.9%
What is in play?
- Treasuries
- S&P futures
- Fed funds futures
Currencies
- USD/JPY
- EUR/USD
- USD/CNY
Index ETFs
- SPDR S&P 500 ETF (SPY)
- PowerShares QQQ Trust (QQQ)
- iShares Russell 2000 (IWM)
II. Thursday, before the open these companies will report earnings, as follow: ABC, JAH, MO, RDS-A, SNE, CME, COP, GG, +++
III. Thursday early 4 economic report are scheduled to be released: 1) Initial Claims (Consensus 264-K), 2) Continuing Claims (Consensus 2185-K), 3) GDP-Adv. (Consensus 1.6%), and 4) Chain Deflator-Adv. (Consensus 1.3%)
Stay tuned…
HeffX-LTN
Paul Ebeling
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