The Economic Calendar is Due Today: A Daily Look At The Bankers Delight
2022-10-31
The stock market is due for a big rally. The economy is strong. And tomorrow is Friday, the best day of the week. Oh, yeah…and the calendar says it’s also the beginning of summer. That’s right, summer officially starts tomorrow. And the calendar also says it’s time to check the economic calendar because today is the day that economic data is due. So what’s on the economic calendar and why do you need to know about it? The economic calendar is a compilation of economic data that is due out over the course of the next few days. So, why is the economic calendar important? The economic calendar reveals when economic data is released and the time of that data’s release. Knowing when and where the economic calendar is due allows investors to get ready in advance and plan accordingly.
What’s on the Economic Calendar Today?
The June ISM Manufacturing Index is due out at 8:30am ET and the June Consumer Confidence Index is due out at 10am ET. The Cement Industry Consumption Index is due out at 12pm ET, and the Fed Chair Powell speaks at 2:30pm ET. The June E-Trade Barometer is due out at 4:45pm ET, and the last economic release of the day is the Michigan Sentiment Index, which will be released at 10:30am ET on Monday, July 2.
Summer officially starts tomorrow.
Summer officially starts tomorrow on Wednesday, June 21 at 11:59pm ET. So, if you’re planning on going to the beach tomorrow, you should probably start packing your things in advance. After all, it’s going to be hot, hot, hot!
June ISM Manufacturing Index due out at 8:30am ET
The manufacturing index for June is due out at 8:30am ET and is expected to show a reading of 53.5. A reading above 50 indicates expansion in the manufacturing sector, and a reading below 50 signals a contraction in the sector. The manufacturing index for June is expected to show a decline from the 55.5 reading recorded in May.
June Consumer Confidence due out at 10am ET
The confidence index for consumers for June is due out at 10am ET. A confident consumer is a happy consumer, and a happy consumer is a healthy consumer. Healthy consumers lead to robust consumer spending, which drives economic growth. The index is expected to rebound from the -3 reading recorded in May and show a gain of 11.
June Michigan Sentiment Index due out at 10:30am ET
The sentiment index for Michigan is due out at 10:30am ET. The current sentiment index for Michigan is at 100.0, which is good. A reading above 50.0 indicates more optimism, and a reading below 50.0 indicates more pessimism. This index was released after the ISM manufacturing index and before the consumer confidence index.
Cement Industry Consumption Index due out at 12pm ET
The last scheduled economic release of the day is the Cement Industry Consumption Index, which is due out at 12pm ET. A reading below 1 indicates a decline in construction, and a reading above 1 indicates an increase in construction. This index was expected to decline from the 111.4 reading recorded in May and show a decline to a reading of 109.4.
Fed Chair Powell speaks at 2:30pm ET
At 2:30pm ET, Fed Chair Powell speaks at the Economic Club of New York. This is a public event, and the speech is open to the public.
Fed Vice Chairman Fischer speaks at 3:30pm ET
At 3:30pm ET, Fed Vice Chairman Fischer speaks at the National Association of Business Economics’ Annual Convention in Baltimore. This is also a public event.
And the E-Trade Barometer is due out at 4:45pm ET
The E-Trade Barometer is a survey of small-cap companies. It is due out at 4:45pm ET and is expected to show a gain of 5.8. A gain of 5.0 or more would indicate that stock prices have risen enough to signal a buying opportunity for investors, and a reading below 5.0 would indicate that stock prices are relatively low and may be a good time to sell some stocks.
Bottom line
The economic calendar is a daily look at the bankers delight of economic data. Data is due out on a daily basis and is relevant to investors. Knowing what data is due out and when provides investors with valuable insight into the health of the economy and the stock market.
