As traders approach another pivotal week for financial markets, a series of crucial economic data releases that could sway market dynamics are expected. On Thursday, the market will get data on retail sales, providing insight into consumer spending patterns. The same day, traders will hear about initial jobless claims, offering a glimpse into the labor market's health. Additionally, the EIA crude oil inventories report will be released, potentially impacting energy sector sentiment.
Major Economic Events to Watch
• Thursday, Oct 17, 8:30 AM ET: Core Retail Sales - Forecast: 0.1%, Previous: 0.1% - Measures retail sales excluding automobiles
• Thursday, Oct 17, 8:30 AM ET: Retail Sales - Forecast: 0.3%, Previous: 0.1% - Key indicator of consumer spending and economic activity
• Thursday, Oct 17, 8:30 AM ET: Philadelphia Fed Manufacturing Index - Forecast: 3.0, Previous: 1.7 - Gauges manufacturing conditions in the Philadelphia area
• Thursday, Oct 17, 8:30 AM ET: Initial Jobless Claims - Previous: 258K - Measures first-time unemployment insurance claims
• Thursday, Oct 17, 11:00 AM ET: EIA Crude Oil Inventories - Previous: 5.810M - Weekly change in commercial crude oil stocks
• Friday, Oct 18, 8:30 AM ET: Building Permits - Forecast: 1.460M, Previous: 1.470M - Indicates demand in the housing market
For further information and the latest updates, please refer to our Economic Calendar, here https://www.investing.com/economic-calendar/
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