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Sparse Data This Week: What Can Investors Expect?

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Sparse Data This Week: What Can Investors Expect? PART 1 OF 6

Job Openings Will Be the Highlight of an Otherwise Dull Week

Highlight of the week

There isn’t much in the way of market-moving economic data this week—the week after the jobs report usually doesn’t have a lot of data. The highlights will be the JOLTS job openings data on Wednesday and retail sales on Friday. Earnings season continues with reports from Walter Investment, Newcastle, and Redwood Trust.

We’ll get some inflation data with import and export prices and the producer price index. However, these readings probably won’t have that much of an impact on the market.

Job Openings Will Be the Highlight of an Otherwise Dull Week

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Economic data this week

Below is a summary of this week’s economic data.

Monday, August 8:

  • Labor Market Conditions Index

Tuesday, August 9:

  • Non-farm productivity
  • NFIB Small Business Optimism
  • Wholesale trade

Wednesday, August 10:

  • Mortgage Bankers Association mortgage applications
  • JOLTS job openings

Thursday, August 11:

  • initial jobless claims
  • Bloomberg Consumer Comfort Index
  • import and export prices

Friday, August 12:

  • retail sales
  • producer price index
  • business inventories
  • consumer sentiment

Earnings this week:

Monday, August 8:

  • Redwood Trust (RWT)

Tuesday, August 9

  • Newcastle Investment Corp (NCT)
  • Walter Investment (WAC)

Implications for mortgage REITs

REITs such as Annaly Capital Management and American Capital Agency (AGNC) will likely focus on data that will move the bond market. Nothing this week should be market-moving. Investors who want to bet on interest rates can look at the iShares 20+ Year Treasury Bond ETF (TLT).

Impact on homebuilders

Homebuilders such as PulteGroup (PHM) and CalAtlantic Group (CAA) will pay the most attention to the JOLTS Job Openings report. Investors can get access to the homebuilding sector through the SPDR S&P Homebuilders ETF (XHB).

In the next part of this series, we’ll discuss what happened last week.

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