Jobless data, home sales lead calendar
September 23, 2010 Thu 12:33 AM CT
Jobless Claims and Existing Home Sales are likely to be economic releases that traders will focus on today. Also scheduled is are remarks by Charles Evans, president of the Chicago Federal Reserve Bank, at 10:40 a.m. ET and Paul Volcker at 1 p.m. ET.
BACDepending on the content of their talks, there is always a chance for additional price swings during and following their appearances.
Jobless Claims will be released at 8:30 a.m. ET. Initial claims are expected to come in flat against the previous week at 450,000. The range is wide, with a skew to the upside, at a bullish 440,000 at the low and a bearish 475,000 at the high. Continuing claims are expected to drop to
4.46 million, down from 4.485 million.
Existing Home Sales will be reported at 10 a.m. ET. The consensus estimate calls for higher sales at 4.1 million units. The range is wide, from a bearish 3 million at the low to a very bullish 5 million at the high end.
Leading Indicators will also be released at the same time as home sales, at 10 a.m. ET. Consensus calls for the number to come in at up 0.1 percent, consistent with the previous month. The range is wide this time around, from a bearish drop of -0.2 percent to a bullish rise of 0.5 percent.
By: Bryan McCormick
AI
