Initial jobless claims and 7-year note auction headline Thursday’s economic data

As traders approach another pivotal day for financial markets on Thursday, December 26, 2024, a series of crucial economic data releases that could sway market dynamics are expected. The spotlight will be on the initial jobless claims report, which serves as a key indicator of the labor market’s health. Additionally, the 7-year note auction will provide insights into investor appetite for U.S. government debt.

Major Economic Events to Watch

• 8:30 AM ET – Initial Jobless Claims: Expected 223K, previous 220K. Measures first-time unemployment insurance claims, indicating labor market trends.

Other Important Economic Events to Watch

• 8:30 AM ET – Continuing Jobless Claims: Previous 1,874K. Tracks ongoing unemployment benefit claims.

• 1:00 PM ET – 7-Year Note Auction: Previous yield 4.183%. Gauges investor demand for medium-term U.S. Treasury debt.

• 4:30 PM ET – API Weekly Crude Stock: Previous -4.700M. Provides insight into U.S. oil inventory levels and petroleum demand.

• 4:30 PM ET – Fed’s Balance Sheet: Previous 6,889B. Discloses Federal Reserve’s assets and liabilities.

• 4:30 PM ET – Reserve balances with Federal Reserve : Previous 3.237T. Shows depository institutions’ account balances at regional Fed banks.

Other Economic Events to Watch

• 7:00 AM ET – MBA Purchase Index: Previous 157.1. Indicates mortgage application volume for home purchases.

• 7:00 AM ET – Mortgage Refinance Index: Previous 617.5. Measures mortgage refinancing activity.

• 7:00 AM ET – Mortgage Market Index: Previous 224.0. Covers all mortgage applications during the week.

• 7:00 AM ET – MBA 30-Year Mortgage Rate: Previous 6.75%. Reports fixed 30-year mortgage lending rates.

• 7:00 AM ET – MBA Mortgage Applications: Previous -0.7%. Shows change in new mortgage application volume.

• 8:30 AM ET – Jobless Claims 4-Week Avg.: Previous 225.50K. Smooths weekly jobless claims data.

• 11:00 AM ET – US M2 Money Supply: Previous 23.31T. Measures broad money supply in the U.S. economy.

• 11:30 AM ET – 4-Week Bill Auction: Previous yield 4.230%. Indicates short-term government borrowing costs.

• 11:30 AM ET – 8-Week Bill Auction: Previous yield 4.230%. Reflects investor demand for short-term Treasury bills.

For further information and the latest updates, please refer to our Economic Calendar, here.

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