Dagens AGenda 9/9

 Retail, housing data top calendar

The calendar is the second heaviest of the week, with housing and retail featured prominently.

MBA Purchase Applications will be released at 13.00. I tend to follow only purchases as these are indicators of news activity, rather than refinancing. The last reading came in at 277.6. A higher reading would be bullish, a lower reading bearish.

The ICSC/Goldman Store Sales report will be released at 13.45. There are two components to the report, the week-over-week and the year-over-year changes. Most traders focus on the year-over-year numbers, which make for clearer comparisons. The last week-over-week change came in at -0.5 percent, while the year-over-year reading was -0.7 percent. A positive number would be seen as bullish, while drops, reported as negative numbers, would be bearish.

Charles Evans, president of the Chicago Federal Reserve Bank, will address the Council on Foreign Relations at 14.00. Traders should be aware that there may be additional price swings around the time of the event.

Redbook Store Sales will be reported at 14.55. There are two components to the report, the month-over-month and the year-over-year changes. Most traders focus on the year-over-year comparison. The last month-over-month number was -0.6 percent, and the year-over-year reading was -4.1 percent. A further negative reading would be bearish, while even a small positive number might be seen as bullish.

Richard Fisher, president of the Dallas Federal Reserve Bank, will deliver the keynote address at the annual meeting of the North Dallas Chamber of Commerce at 19.30. The topic will center on economic issues.


By: Bryan McCormick

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