PMI, Existing Home Sales Data Will Impact Market Sentiment on Friday By Investing.com

As traders approach another pivotal day for the financial markets on Friday, January 24, 2025, a series of important economic data is expected to be released that could influence market dynamics. Manufacturing and services PMI numbers will be highlighted, as well as existing home sales data, which are expected to provide valuable insights into the health of the US economy.

Major economic events to watch

• 9:45 AM ET – Manufacturing PMI (January): expected 49.8, previous 49.4. This indicator measures the activity levels of purchasing managers in the manufacturing sector.

• 9:45 AM ET – Services PMI (January): expected 56.4, previous 56.8. This edition is based on surveys of executives at private sector service companies.

• 10:00 AM ET – Existing Home Sales (December): expected 4.19 million, previous 4.15 million. This report measures the strength of the housing market in the United States.

Other important economic events to watch

• 9:45 AM ET – S&P Global Composite PMI (January): 55.4 Previous. This index provides a comprehensive overview of business activity in the manufacturing and services sectors.

• 10:00 AM ET – Michigan Consumer Forecast (January): Expected 70.2, Previous 73.3. This component reflects consumers’ expectations about future economic conditions.

• 10:00 AM ET – Michigan Consumer Confidence (January): expected 73.2, previous 74.0. This indicator measures the relative level of current and future economic conditions.

• 10:00 AM ET – Existing Home Sales (MoM) (December): Previous 4.8%. This measures the change in the number of existing residential buildings sold.

• 1:00 PM ET – Baker Hughes (NASDAQ:) US Drilling Rig Count: Previous 478. This serves as a leading indicator of demand for petroleum products.

• 1:00 PM ET – Baker Hughes USA Team the total (EPA:) Number of drilling rigs: Previous 580. This provides a broader view of drilling activity in all sectors.

• 3:30 PM ET – CFTC S&P 500 Speculative Positions: Previous -30.5K. This report provides insight into market sentiment among speculative traders.

• 3:30 PM ET – CFTC Positions: 10.5K ex. These data reflect a speculative position in heavy technology stocks.

• 3:30 PM ET – CFTC gold position: 279.4K previously. This report shows speculative interest in .

• 3:30 PM ET – CFTC Crude Oil Positions: Previously 306.3K. These data indicate speculative positions in futures contracts.

Other economic events worth watching

• 10:00 AM ET – Michigan One-Year Inflation Forecast (January): expected 3.3%, previous 2.8%. This survey measures consumers’ expectations about inflation for the coming year.

• 10:00 AM ET – Michigan 5-year inflation forecast (January): expected 3.3%, previous 3.0%. This survey shows average expected price changes over the next five years.

• 10:00 AM ET – Current Conditions for Michigan (January): Expected 77.9, Previous 75.1. This component reflects consumers’ assessment of current economic conditions.

• 11:00 AM ET – Kansas City Fed Manufacturing Index (January): Previous -5. This survey provides information on current manufacturing activity in District 10.

• 11:00 AM ET – Kansas City Fed Composite Index (January): Previous -4. This indicator provides a broader view of economic activity in the 10th region.

• 3:30 PM EDT – CFTC aluminum net position: 3.4K ex. This report outlines speculative positions in aluminum futures.

• 3:30 PM EDT – CFTC Copper Positions: 11.8K previously. These data reflect speculative interest in…

• 3:30 PM ET – CFTC Silver Position: 46.1K Previous. This report indicates speculative positions in…

• 3:30 PM EDT – CFTC Natural Gas Speculative Positions: Previous -71.6K. This data shows speculative interest in .

• 3:30 PM EDT – CFTC Wheat Position: Previous -82.2K. This report reflects speculative positions in wheat futures.

• 3:30 PM ET – CFTC Positions: 348.1K ex. This data indicates speculative interest in corn futures.

• 3:30 PM EDT – CFTC Soybean Positions: 14.5K ex. This report shows speculative positioning in soybean futures.

For more information and the latest updates, please refer to our economic calendar, here.

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