U.S. Economic Calendar Event Update – Dec 28
These are the U.S. economic calendar events for Friday, December 28, 2012. All times are EST.
Chicago PMI for Dec are scheduled to be released at 9:45 AM. Analysts are estimating a result of 51. The prior period for Chicago PMI had a result of 50.4. This event has a major effect on US markets.
Pending Home Sales for Nov are scheduled to be released at 10:00 AM. Analysts are estimating a result of 1%. The prior period for Pending Home Sales had a result of 5.2%. This event has a moderate effect on US markets.
Crude Inventories for the week ending on 12/21 are scheduled to be released at 11:00 AM. The prior period for Crude Inventories had a result of -0.964. This event has a low effect on US markets.
At the release of important events, US equity markets (INDEXSP:.INX) can make major moves. Be sure to keep an eye on S&P (NYSEARCA:SPY), Nasdaq (NYSEARCA:QQQ) and Dow Jones (NYSEARCA:DIA) at the time of announcements.
Here is some more information about the events discussion in this article.
Chicago PMI: The ISM-Chicago Business Survey, a regional view of the national economy, is a time-tested, market-moving report. The Chicago Business Barometer, summarizing current business activity, also is known as Chicago Purchasing Manager Index or Chicago PMI. The Barometer is considered to be a leading indicator of the USA economy.
Pending Home Sales: The Pending Home Sales released by the National Association of Realtors is a leading indicator of trends of the housing market in the US It captures residential housing contract activity of existing single-family homes.
Crude Inventories: Measure of inventories of crude oil stored for future use. The figure relies on the Energy Information Administration’s Monthly Crude Oil Report which surveys companies that store 500 or more barrels of crude oil. Because companies with smaller stores are excluded, the figure systematically underestimates actual crude oil stores. Nonetheless, the report is significant as changes in crude oil inventories provide insight into oil demand and prices. A significant decrease in inventories suggests the supply of oil is possibly strained, which puts upward pressure on oil prices. Any increase in oil prices will act as an inflationary pressure as increased oil prices are fed through the economy. But because any affects of Oil Stocks would take some time to feed through the economy, the report typically does not affect the market. The figure is reported monthly, either in thousands of barrels per month or as a percentage change from the previous month.