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Week Ahead: Job Openings Are the Highlight of a Data-Light Week

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Updated

Light data ahead

There isn’t usually a lot of data the week after the jobs report. This week isn’t an exception. Investors will still be digesting the jobs report from last Friday. The biggest data points this week will be the JOLTS jobs report and retail sales.

There aren’t many earnings reports this week for real estate investors. The main one is from Chimera.

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Economic data this week

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

Monday, February 8:

  • Labor Markets Conditions Index

Tuesday, February 9:

  • NFIB Small Business Optimism
  • JOTS Job Openings
  • Wholesale Sales
  • Wholesale Inventories

Wednesday, February 10:

  • MBA (Mortgage Bankers Association) mortgage applications
  • Monthly Budget Statement

Thursday, February 11:

  • initial jobless claims
  • Bloomberg Consumer Comfort

Friday, February 12:

  • Import Price Index
  • Retail Sales
  • Business Inventories
  • University of Michigan Consumer Sentiment

Earnings reports

Wednesday, February 10:

  • Chimera Investment Management (CIM)
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Impact on mortgage REITs

REITs like Annaly Capital Management (NLY) and American Capital Agency (AGNC) will likely focus mainly focus on data that will move the bond market. For them, it will be all about the JOLTS jobs report. The Bank of Japan’s surprising move to implement negative interest rates pushed global bond yields much lower. Investors who want to bet on interest rates can look at the iShares 20+ Year Treasury Bond ETF (TLT).

Impact on homebuilders

Homebuilders like Lennar (LEN) and CalAtlantic (CAA) will likely focus on the JOLTS job opening report as well. There simply isn’t much data this week for them. The spring selling season is just around the corner. It unofficially kicks off next week. Investors can trade the homebuilding sector through the SPDR S&P Homebuilders ETF (XHB).

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