The Jobs Report: This Week’s Highlight for REIT Investors

We’ll get a lot of important economic data this week, and the biggest release will be the jobs report on Friday. The Fed will get two jobs reports before the September FOMC meeting, where it could raise rates. The wage data is the most important piece of the puzzle—not so much payrolls.

Other important economic reports this week include personal income and personal spending on Monday, the ISM reports, and factory orders.

In terms of real estate–focused data, we’ll get construction spending on Monday. Mortgage REIT Annaly Capital (NLY) reports Wednesday.

Here’s a look at a rundown of this week’s economic data.

Monday, August 3, 2015:

• personal income
• personal spending
• PCE deflator
• Markit US Manufacturing PMI
• construction spending
• ISM Manufacturing

Tuesday, August 4, 2015:

• factory orders
• IBD/TIPP Economic Optimism

Wednesday, August 5, 2015:

• MBA (Mortgage Bankers Association) mortgage applications
• ADP Employment Change
• trade balance
• ISM Non-Manufacturing

Thursday, August 6, 2015:

• initial jobless claims
• Bloomberg Consumer Comfort Index
• Challenger Job Cuts

Friday, August 7, 2015:

• non-farm payrolls
• unemployment rate
• average hourly earnings
• average weekly hours
• underemployment rate
• labor force participation rate
• consumer credit

Wednesday, August 5

• Annaly Capital (NLY)

REITs such as Annaly (NLY) and American Capital Agency (AGNC) will focus on data that will move the bond market. For them, it will be all about the jobs report. Investors who want to bet on interest rates should look at the iShares 20-year bond fund (TLT).

Builders such as PulteGroup (PHM) and Lennar (LEN) will focus on construction spending and some of the other macro reports. D.R. Horton (DHI) reported good numbers a last week. Investors can trade the homebuilding sector via the S&P SPDR Homebuilder ETF (XHB).