Earlier:
• Summary for Week Ending Dec 21st
This will be a light week for economic data with the markets closing early on Monday, and closed on Tuesday, in observance of the Christmas Day holiday.
The key economic reports this week are the Case-Shiller house price indexes on Wednesday, and New Home sales on Thursday.
Happy Holidays to All. As usual, the Calculated Risk blog will be open.
—– Monday, Dec 24th —–
SIFMA recommends US markets close at 2:00 PM ET in advance of the Christmas Day holiday.
—– Tuesday, Dec 25th —–
US markets are closed in observance of the Christmas Day holiday.
—– Wednesday, Dec 26th —–
Note: The Mortgage Bankers Association (MBA) will not release the mortgage purchase applications index this week. They will release two weeks of results on Thursday, January 3, 2013.
9:00 AM: S&P/Case-Shiller House Price Index for October. Although this is the October report, it is really a 3 month average of August, September and October.This graph shows the nominal seasonally adjusted Composite 10 and Composite 20 indexes through September 2012 (the Composite 20 was started in January 2000).
The consensus is for a 4.1% year-over-year increase in the Composite 20 index (NSA) for September. The Zillow forecast is for the Composite 20 to increase 4.1% year-over-year, and for prices to increase 0.3% month-to-month seasonally adjusted.
10:00 AM: Richmond Fed Survey of Manufacturing Activity for December. The consensus is for a decrease to 6 for this survey from 9 in November (Above zero is expansion).
—– Thursday, Dec 27th —–
8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for claims to increase to 365 thousand from 361 thousand last week. If correct, this would put the 4-week near the low for the year.
10:00 AM: New Home Sales for November from the Census Bureau.This graph shows New Home Sales since 1963. The dashed line is the October sales rate.
The consensus is for an increase in sales to 375 thousand Seasonally Adjusted Annual Rate (SAAR) in November from 368 thousand in October.
10:00 AM: Conference Board’s consumer confidence index for December. The consensus is for an decrease to 70.0 from 73.7 last month.
—– Friday, Dec 28th —–
9:45 AM: Chicago Purchasing Managers Index for December. The consensus is for an increase to 51.0, up from 50.4 in November.
10:00 AM ET: Pending Home Sales Index for November. The consensus is for a 18% increase in the index