The latest development around the coronavirus (COVID-19) has kept affecting the stock market to some or the other extent. While the virus has been quite ineffective in the US with only 34 cases, other countries such as South Korea, Italy and Iran and facing a splurge of victims on a daily basis. Apart from this, there are 5 economic indicators that every investor should keep a close eye on –
The conference board will release the US consumer confidence report for February on this Tuesday. The report will uncover the market sentiments at such a time when the world of mouth about coronavirus is all over the place and the Democratic primaries are highly discussed. Experts believe that consumer confidence will hardly face any change due to the coronavirus and it will only show an upward trend.
New Home sales
New home sales are due for release this Wednesday and this is why the housing sector will start getting attention. A strong increase in the number of new home sales will showcase that the economy is growing. While reports show that in January 715,000 new homes were sold, the numbers are expected to grow by 4% in this upcoming report. This is majorly due to the lower mortgage rates and higher mortgage applications along with a strong labor market in the country.
Durable goods may dampen the spirit
Reports on durable goods orders are due for presentation this Thursday and it can surely dampen the moods of the investors. There was an increase of 2.4% in December but as of yet the reports are set to show a drop of 1.5% due to the scarcity of defense and Boeing orders. Experts feel that if the durable reports drop by more than 1.5%it can surely trigger a sell-off spree in the stock market.
Real GDP figures are set to be revealed
On Thursday, the US Commerce Department will showcase the revised projection of GDP Q4. It is expected that the GDP will grow by 2.4% citing the agreement between the US and China regarding trade truce and the recently evolved government spending measure.
Personal income and spending
This Friday will witness January’s income and spending and the experts suggest that there will be at least a 0.3% increase in both income and spending. The healthy labor market is the catalyst for such gains in terms of personal income.
Such reports do pave the way for an all-smile week for the investors unless there’s something major that will leave the stock market struggling.