Does Dow Jones Industrial Average (INDEXDJX.DJI), S&P 500 (INDEXSP:INX) and NASDAQ Composite (INDEXNASDAQ:IXIC) have finished with modest gains for the week ended March 17. The three indices advanced 0.06 percent, 0.24 percent and 0.67 percent respectively during the period with Nasdaq outperforming the rest. Throughout the week, trading was lackluster with indices closing with modest losses or flat except Wednesday. There was only one trading session that witnessed strong trading activities, i.e. when the Fed boosted interest rates. As far as the current week, there is not much to be expected from the corporate. Therefore, it is left to the economic data to drive sentiments.
The following economic data will be released this week:
- On Tuesday, Current Account balance for the fourth quarter will be released. Market expects -$128.2 billion while the previous quarter had -$113.0 billion.
- On Wednesday, MBA Mortgage Applications Index for the period ended March 18 will be disclosed.
- MBA Mortgage Index for the period ended March 18 will be announced.
- FHFA Housing Price Index for January will be released.
- Existing Home sales for February will be disclosed. Market expects 5.54 million on top of 5.69 million recorded in the preceding month.
- Crude Inventories for the period ended March 18 will be revealed.
- On Thursday, Initial claims for the period ended March 18 will be announced. Market sees 239,000 additions.
- Continuing claims for the period ended March 11 will be released.
- New home sales for February will be announced. Market sees 560,000 on top of 555,000 witnessed in the preceding month.
- Natural Gas Inventories for the period ended March 18 will be disclosed.
- On Friday, durable orders for February will be released. Market expects 1.3 percent uptick.
- Durable goods, excluding transportation, for February will be announced. Market sees 0.7 percent growth.