What key events and releases will be driving the markets next week?

Tuesday , August 23

  • various flash PMI estimates for Europe and UK
  • US/services and manufacturing PMI indices, 9:45 AM ET. Manufacturing PMI 52.0 vs. 52.2 last month. Services PMI 50.0 vs. 47.3 last month
  • US new home sales, 10 AM ET. Estimate 574K vs. 590K last
  • Richmond Fed manufacturing index for August. 10 AM ET. Estimate -6 vs. 0 last month

Wednesday, August 24

  • US durable goods orders. 8:30 AM ET. Estimate 0.9% vs. 2.0% last month
  • US pending home sales. 10 AM ET. Estimate -2.1% vs. -8.6% last month

Thursday, August 25

  • New Zealand retail sales Q/Q. 6:45 PM ET (Wednesday). Estimate 1.7% vs. -0.8% last quarter
  • German Ifo business climate. 4 AM ET. Estimate 86.7 vs. 88.6 last month
  • US preliminary GDP for 2Q. 8:30 AM ET. -0.8% vs. -0.9%.
  • US unemployment claims. 8:30 AM ET. Estimate 250K unchanged from last week
  • Jackson Hole symposium. All day

Friday, August 26

  • US core PCE price index. 8:30 AM ET. Estimate 0.3% vs. 0.6% last month.
  • US personal income/consumption. 8:30 AM ET. Personal income estimate 0.6% vs. 0.6% last. Personal consumption 0.5% vs. 1.1% last
  • US University of Michigan consumer sentiment. 10 AM ET. Estimate 55.3 vs. 55.1 preliminary
  • Fed Chair Powell speaks at the Jackson Hole symposium. 10 AM ET.