The Week Ahead: 10/5 – 10/9
Monday, October 5
- 10:00 AM – ISM Services Index for Sept.
- 10:30 AM – Crude Oil Inventories
Tuesday, October 6
Wednesday, October 7
- 2:00 PM – Consumer Credit for Aug.
- 2:00 PM – Treasury Budget for Sept.
- ~4:00 PM – Alcoa’s Q3 Earnings
Thursday, October 8
- 8:30 AM – Initial Jobless Claims for week ending 10/03
- 8:30 AM – Continuing Jobless Claims for week ending 9/26
- 10:00 AM – Wholesale Inventories for Aug.
- 2:00 PM – House Financial Services Committee, Subcommittee on Housing and Community Opportunity Hearing: “The Future of the Federal Housing Administration’s Capital Reserves” Assumptions, Predictions, and Implications for Homebuyers”
Friday, October 9
- 8:30 AM – Trade Balance
My Take
Not much to get excited about this week which could mean volatility in the markets from the key employment data on Thursday. Last week’s negative sentiment and breaches of key technical levels in the S&P and Dow could mean we’re at the start of the next downturn, but the start of Q3 earnings with Alcoa this week will determine how steep of a downturn we’re likely to see.
I expect consumer credit to remain about the same for August with the end of “Cash for Clunkers” skewing the results. The real downturn in consumer credit will likely follow with September’s data.
I’ll be interested to see what comments come out of that Senate subcommittee hearing on Thursday. The FHA is the key to any kind of housing price stability and their reserve situation is frightening to say the least.
Welcome to HomeEconomics
Welcome to HomeEconomics… no, not that boring class you took in middle school to teach you how to become the next Martha Stewart. This version of HomeEc features unconventional discussions about economic issues facing the American public (aka Main Street) and how they impact our lives. I’ll also be sharing my day to day thoughts and perspectives on how to take advantage of the current and upcoming economic landscape.
… But if you want to bake cakes and pies while reading this, be my guest.
HomeEconomics 