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Home Prices, Home Sales, Consumer Confidence: 3 Things to Watch

Stock Markets Sep 26, 2022 03:45PM ET
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By Liz Moyer

Investing.com -- Stocks slumped further on Monday, extending last week's declines, as investors worried about a recession amid aggressive monetary tightening by the Federal Reserve.

Currencies and bonds are also in the news. The strong dollar is pressuring other economies, with the British pound falling to a fresh low of less than $1.04 before ticking higher after the Bank of England made a statement in its defense.

Investors can't stop worrying about a global economic slowdown, and that has pressured everything from growth stocks such as big tech to the price of crude oil, which is down below $80 a barrel for WTI.

The Fed is out to tame inflation no matter what kind of economic pain that may cause in the short run. This week will feature speeches by a slate of Fed officials who presumably will be out to reinforce that message.

Investors were also watching as a powerful hurricane takes aim at Florida's west coast, possibly by midweek. Hurricane Ian could develop into a Category 4 hurricane and slam into Florida somewhere between Tampa and the panhandle. While that's out of the way of the bulk of the U.S. offshore drilling industry on the Gulf Coast, the storm could still interrupt some energy production later in the week.

Here are three things that could affect markets tomorrow:

1. House price index

At 9:00 ET (13:00 GMT), the S&P/CS home price index for 20 cities comes out alongside other data on housing costs. Analysts expect the number for July to rise 17%, which would be a cooler pace from the 18.6% gain in June.

2. New home sales

At 10:00 ET, the new home sales numbers come out. Analysts expect to see 500,000 for August, which would be down from 511,000 the prior month.

3. CB consumer confidence

Also at 10:00 ET, the CB consumer confidence number comes out for September. Analysts expect a reading of 104.5 versus the prior reading of 103.2.

Home Prices, Home Sales, Consumer Confidence: 3 Things to Watch
 

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Comments (6)
Edward Gerety
EdwardTjGerety Sep 27, 2022 6:11AM ET
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Flashing Red Light - the Recession is getting deeper. Subprime loans are faltering at higher levels, auto loans are at higher faltering rates.
Brad Albright
Brad Albright Sep 27, 2022 6:11AM ET
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Auto loan default rates are among the lowest in 15 years. Get your facts straight.
Tokyo Tiger
Tokyo Tiger Sep 27, 2022 4:24AM ET
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500K new houses, supply babee
Kerry Drake
Kerry Drake Sep 26, 2022 11:50PM ET
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Housing Bubble coming up.
Sami Khan
Sami Khan Sep 26, 2022 10:13PM ET
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0097474048499
Paul Clues
Paul Clues Sep 26, 2022 7:59PM ET
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The world house prices are crazy, the need to stop people land banking for no more than 12 months without penalty to rental value with money going to assist homeless mother's and people trying to get into the rental market with great difficulty. We need to be better world citizens everyone deserves a safe roof over there head.
EL LA
EL LA Sep 26, 2022 4:11PM ET
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USD to 125 or bust!
 
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