GDP up first
The US economic calendar has some highlights today as we count down to Christmas.
At the bottom of the hour we get the third look at Q3 GDP. At this point, revisions are academic and tell us little about how growth is doing in the final days of Q4. The consensus is no chance from the annualized pace of +33.1% q/q.
The market moving data will come at 1500 GMT with the release of:
- Dec consumer confidence from The Conference Board
- Nov existing home sales
- Dec Richmond Fed
The confidence data is key and will offer an early read on holiday shopping. I look at this one as a bit of a free roll for the market because if it's soft, there's always the stimulus money coming. If it's strong, then the stimulus money is a bonus. The consensus is 97.0 from 96.1.
