New York, NY – As economic reports are set to release on Thursday, investors and economists are eagerly anticipating key data points that could impact market sentiment and financial decisions. Among the reports set to be unveiled are weekly jobless claims, durable goods orders, and pending home sales. These indicators provide valuable insights into the health of the economy and can influence investment strategies.
Economists surveyed by various sources have made predictions regarding these upcoming reports. Jobless claims for the week ending June 22 are expected to show a slight increase, with estimates suggesting a rise to 240,000 from the previous week’s figure of 238,000. This data point is closely watched as it reflects the overall trend in unemployment rates and labor market conditions.
On the other hand, durable goods orders, which measure new orders placed with U.S. manufacturers for long-lasting goods like machinery and equipment, are anticipated to have decreased by 0.6% in May. The previous month had seen a 0.6% increase, highlighting potential shifts in consumer demand and business investment.
Additionally, pending home sales, a key indicator of housing market activity, are forecasted to have risen by 1% in May following a steep decline of 7.7% in April. This data point sheds light on the state of the real estate market and consumer sentiment towards home buying.
Meanwhile, in the commodities market, September wheat futures hit a two-month low on Wednesday, dropping to $5.5625 a bushel. This price decline represents a 17.6% drop for the month so far, marking the worst month for wheat futures since June 2022. The downward trend in prices may indicate changing supply and demand dynamics in the wheat market.
In the stock market, after-hours trading saw some major movements in share prices. Companies like Micron, Levi Strauss, and AeroVironment experienced significant shifts in their stock prices following earnings reports and revenue guidance. These moves can impact investor confidence and overall market sentiment.
Looking ahead, S&P 500 futures opened slightly lower on Wednesday night, signaling potential volatility in the coming trading session. As investors digest the latest economic data and corporate earnings reports, market dynamics are expected to continue fluctuating based on these key indicators and developments.