Stock market freezes up in anticipation of new data

A new batch of statistics has been published in the U.S.

In brief: Regular statistics may help the market recover. At the same time, data on the mortgage market may discourage investors.

On Wednesday August 25 U.S. stock market will get a significant amount of information to ponder on. In addition to secondary data on mortgages, the market is going to look forward to July data on durable goods orders.

After declining for two consecutive months, one can its expect growth rate by 2,8%. With the exception of defense and transportation sectors, the orders may increase by 1,6% and 0,5% respectively. Investors are currently waiting for fresh news from the U.S. housing market, namely, for data on new home sales that are likely to remain unchanged (0.33 million homes), as well as for data on property index value. By mid-afternoon the EIA will publish data on changes in oil reserves for the past week. After a three-week reduction, they are expected to increase by 0.2 million barrels. Earlier this morning API released data on an unexpected 1.847 million barrels decline in oil reserves, despite a projected growth.

Anrey Torbinski
2010-08-25 14:37, Economics.

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