Tuesday
The Case-Shiller index, the gold standard for home prices, is expected to show home prices increasing 6.9% year-over-year in November at 9:00 AM. At 10:00 AM, Consumer confidence is expected to rise slightly to 109 which would be the highest level since February 2022.
Wednesday
A busy day kicks off at 7:00 AM with mortgage demand for last week which will show if demand can show positive movement for four weeks in a row. At 8:15 AM, the ADP employment report is expected to show 175k jobs created in January, At 10:00 AM, construction spending is projected to fall 0.1% in December and job openings are projected to fall to 10.2M to end the year. At 2:00 PM, Federal Reserve Jerome Powell will announce the FOMC rate decision which is expected to be 25 basis points.
Thursday
At 7:00 AM the Bank of England will announce the latest change to their interest rate and at 8:15 AM the European Central Bank will make their announcement. Both central banks are expected to raise rates by 50 basis points. At 8:30 AM jobless claims are expected to rise to 200k. and at noon, Freddie Mac will announce where mortgage rates are for the week.
Friday
It’s all about jobs on Friday as the nonfarm payrolls will be released at 8:30 AM and economists believe the economy created 185k jobs to start 2023. This would be down from 223k jobs created in December and well below the 375k average in 2022.