U.S. Jobless Claims And Existing Home Sales Among Biggest Macro Catalysts Today

U.S. stocks closed lower on Wednesday after Target Corporation TGT reported weaker-than-expected quarterly earnings.

Let’s have a look at the major economic events scheduled for today.

• Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. Analysts expect jobless claims coming in at 265,000 for the August 13 week, compared to 262,000 in the previous week.
• The Philadelphia Fed manufacturing index for August will be released at 8:30 a.m. ET. The Philadelphia Fed manufacturing index is likely to recover slightly to negative 5.0 in August from minus 12.3 in July.
• Data on existing home sales for July will be released at 10:00 a.m. ET. Existing home sales are projected to decline to an annualized rate of 4.85 million in July from 5.12 million in the previous month.
• The index of leading economic indicators for July is scheduled for release at 10:00 a.m. ET. After June's 0.8% contraction, the index of leading economic indicators is expected to contract further by 0.5% in July.
• The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.
• The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.
• Federal Reserve Bank of Kansas City President Esther George is set to speak at 1:20 p.m. ET.
• Minneapolis Fed President Neel Kashkari will speak at 1:45 p.m. ET.

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