31 July, 2012 a data heavy day and in next couple of days we expect some more data which will play an influential role in guiding Fed to take decision about QE III.
S&P Case Shiller Index
One of the data, Home prices, showed signs of stabilization in May. According to the S&P/Case-Shiller indexes, the composite 20-city home price index, a key gauge of U.S. home prices, was up 2.2% in May from the previous month and fell just 0.7% from a year earlier. Although prices continue to fall on an annual basis, the rate has slowed indicating that home prices may be close to posting year-over-year gains. Twelve of the 20 cities posted annual increases in May.
| 1-Aug-12 | ADP Employment Report (Jul) |
| 1-Aug-12 | Construction Expenditures (Jun) |
| 1-Aug-12 | FOMC Meeting (Day 2 of 2) Press Statement at 4:30 pm |
| 1-Aug-12 | FOMC Press Conference |
| 1-Aug-12 | Light Vehicle Sales (Jul) |
| 1-Aug-12 | Manufacturing ISM/Prices Paid (Jul) |
| 1-Aug-12 | Online Help Wanted (Jul) |
| 2-Aug-12 | Chain Store Sales (Jul) |
| 2-Aug-12 | Challenger Layoffs (Jul) |
| 2-Aug-12 | Factory Orders (Jun) |
| 2-Aug-12 | Jobless Claims (Jul 28) |
| 3-Aug-12 | Average Hourly Earnings (Jul) |
| 3-Aug-12 | Average Weekly Hours (Jul) |
| 3-Aug-12 | Nonfarm Payrolls (Jul) |
| 3-Aug-12 | Non-Manufacturing ISM (Jul) |
| 3-Aug-12 | Private Payrolls (Jul) |
| 3-Aug-12 | Unemployment Rate (Jul) |
S&P Case Shiller Index
One of the data, Home prices, showed signs of stabilization in May. According to the S&P/Case-Shiller indexes, the composite 20-city home price index, a key gauge of U.S. home prices, was up 2.2% in May from the previous month and fell just 0.7% from a year earlier. Although prices continue to fall on an annual basis, the rate has slowed indicating that home prices may be close to posting year-over-year gains. Twelve of the 20 cities posted annual increases in May.
However, other data like Consumer spending and personal income were mixed.Consumer spending for June slid less than 0.1% compared with the prior month, the second consecutive fall. Incomes rose a healthy 0.5% last month. But instead of spending more, Americans saved more. The savings rate increased to 4.4%, the highest level in a year.
In another development, the pace of hiring in the U.S. manufacturing sector slowed in July even though overall economic activity picked up slightly during the month, a survey of Chicago-area purchasing managers revealed on Tuesday. The Institute for Supply Management-Chicago‘s business barometer rose to 53.7, from 52.9 in June. The index continued to rebound from a 2 1/2-year low of 52.7 in May. However, ISM-Chicago’s employment index dropped to 53.3 in July, down from 60.4 in June and the year’s high of 64.2 in February.
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