U.S. stock and bond markets will be closed for Martin Luther King Jr. Day on Monday. Earning season ramps up when investors return on Tuesday, starting with
Bank of America,
Economic data out this week includes several housing market indicators: the National Association of Home Builders’ NAHB/
Housing Market Index for January on Wednesday, the Census Bureau’s new residential construction data for December on Thursday, and the National Association of Realtors’ existing-home sales for December on Friday. Also on Friday,
will release the Manufacturing and Services Purchasing Managers’ indexes for January.
The European Central Bank and the
Bank of Japan
both announce their latest monetary policy decisions on Thursday. And on Wednesday at noon ET, Joe Biden will be sworn in as the 46th president of the U.S.
Stock and fixed-income markets are closed in observance of Martin Luther King Jr. Day.
Cos. hosts a virtual environmental, social, and corporate governance event. The firm’s CEO, Alan Armstrong, along with senior leadership will discuss the company’s forward-looking strategy for sustainable operations.
Joe Biden will be sworn in as the 46th president of the U.S. at noon in Washington, D.C.
The National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for January. Consensus estimate is for an 86 reading, matching the December data.
The European Central Bank announces its monetary-policy decision. The ECB is unlikely to change the deposit facility rate, currently at a record-low negative 0.5%.
The Census Bureau reports new residential construction data for December. Economists forecast a seasonally adjusted annual rate of 1.56 million housing starts, slightly more than the November figure. Building permits are seen coming in at 1.6 million, just below the previous month’s data.
The Bank of Japan announces its monetary-policy decision. The central bank is expected to keep its key short-term rate unchanged at negative 0.1%. It has been five years since Japan first instituted negative interest rates to head off a deflationary spiral.
IHS Markit releases both the Manufacturing and Services Purchasing Managers’ indexes for January. Consensus estimate for the Manufacturing PMI is 56.5, while the Services PMI is expected to be 53.6. Both readings are slightly below the December data.
The National Association of Realtors reports existing-home sales for December. Economists forecast a seasonally adjusted annual rate of 6.4 million home sold, fewer than November’s 6.7 million. In November, the median existing-home price was $310,800, up 14.6% year over year.
Write to Nicholas Jasinski at [email protected]