The Week Ahead: New Home Sales and Consumer Spending Reports, But All Eyes Are on Spain

This week, market watchers will keep their eyes on a potential bailout request by Spain. Stories are circulating that the country is preparing for a  formal bailout request to the European Central Bank; it may arrive on Thursday, reported the Financial Times.

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No surprise, Spain has said it doesn’t need a bailout but an actual request is a different story.

Back in the U.S., it’s a busy week for economic numbers. This includes a snapshot of the U.S. housing market, GDP and consumer sentiment topping the list.

There’s a short list of corporate earnings including Nike Inc. (NYSE:NKE) and Lennar (NYSE:LEN).

Let’s take a look at the week ahead.

Economic Data

Monday: Chicago Fed August national activity index and Dallas Fed September manufacturing survey

Tuesday: S&P Case-Shiller home-prices index for July, September consumer confidence, July FHFA home prices index and Richmond Fed September manufacturing survey

Wednesday: August new home sales

Thursday: Weekly jobless claims, August durable goods orders, Second-quarter real GDP (3rd read), August pending home sales and Kansas City Fed September manufacturing survey

Friday: August personal income, August consumer spending, August core PCE prices, September Chicago PMI and September Reuters/UMich consumer sentiment (final)

Earnings

Monday: Lennar (NYSE:LEN), Paychex (NASDAQ:PAYX), Red Hat (NYSE:RHT)

Tuesday: Carnival (NYSE:CCL), Jabil Circuit (NYSE:JBL), H.B. Fuller (NYSE:FUL), FactSet (NYSE:FDS)

Wednesday: Worthington Industries (NYSE:WOR), Progress Software (NASDAQ:PRGS)

Thursday: Nike (NYSE:NKE), Micron Tech (NASDAQ:MU),  Texas Industries (NYSE:TXI), Accenture (NYSE:ACN), Discover Financial (NYSE:DFS)

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