5 Market Reports to Watch
1. US builders' confidence report
The National Association of Home Builders' housing-market index dropped by three points to 62 in November. Wall Street analysts were predicting 63. This high number indicates the industry is still gaining momentum in a troubled global economy.
2. E-commerce retail sales report
Despite gloomy Q3's for Macy's and Nordstrom, year-over-year e-commerce sales actually jumped by 15.1%, leading to further speculation that retail holiday sales could drop even further from the decreased foot traffic.
3. MBA mortgage applications
Last week saw a decrease of 1.3% in applications due to mortgage rates reaching new highs. This number, which has been dropping over the past three weeks, still gives investors a gauge for housing demand as well as an overall look at the economy.
4. Housing starts report
Despite a fall of 1.2% in housing starts for the month of October, construction spending is still strong. Multifamily in particular stays strong.
5. Jobless claims report
Last week saw initial jobless claims increase to 270,000. This week is expected to continue the trend of the last two reports, which still indicate a historic low. The report drops Thursday.