Tuesday brought GDP and Consumer Confidence figures. GDP increased at an annual rate of 2.1% in the third quarter of 2015, according to the "second" estimate released by the Bureau of Economic Analysis. The increase in real GDP in the third quarter primarily reflected positive contributions from personal consumption expenditures (PCE), nonresidential fixed investment, state and local government spending, residential fixed investment, and exports that were partly offset by a negative contribution from private inventory investment. Imports, which are a subtraction in the calculation of GDP, increased.

 

The Conference Board Consumer Confidence Index, which had decreased moderately in October, declined further in November. The Index now stands at 90.4 (1985=100), down from 99.1 in October. Analysts were predicting increase to 99.3. The Present Situation Index decreased from 114.6 last month to 108.1 in November, while the Expectations Index declined to 78.6 from 88.7 in October.

 

Wednesday was marked by Durable Goods Orders, Unemployment Claims and New Home Sales figures.U.S. orders for long-lasting or durable goods rebounded in October to show the first increase in three months. Bookings rose a seasonally adjusted 3%, following declines of 0.8% in September and 2.9% in August. Economists had expected a seasonally adjusted 2.1% increase last month. Stripping out transportation, durable-goods orders rose a smaller 0.5% last month.

 

Separate report on Unemployment Claims showed decrease to 260,000, also beating market forecasts. The advance seasonally adjusted insured unemployment rate was 1.6 percent for the week ending November 14, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending November 14 was 2,207,000, an increase of 34,000 from the previous week's revised level.

 

New home sales ran at an annual rate of 495,000 in October. That was up 10.7% for the month, the Commerce Department said Wednesday, and 4.9% higher compared to a year ago. September's pace, previously reported as 468,000, was revised down to 447,000. The median sales price dipped 8.5% to $281,500 from a recent high of $307,800.

 

This week markets will be looking at:

 

Chicago PMI (Monday 15:45)

Pending Home Sales (Monday 16:00)

ISM Manufacturing PMI (Tuesday 16:00)

ADP Non-Farm Employment Change (Wednesday 14:15)

Unemployment Claims (Thursday 14:30)

ISM Non-Manufacturing PMI (Thursday 16:00)

Non-Farm Employment Change/Unemployment Rate (Friday 14:30)

Trade Balance (Friday 14:30)