The Conference Board issues its latest index of consumer confidence Tuesday
A look at some of the key business events and economic indicators upcoming this week:
EYE ON CONSUMERS
The Conference Board issues its latest index of consumer confidence on Tuesday.
Economists expect this month’s index will show a reading of 132.5. That would be the highest reading since August. Continued strength in the job market and low unemployment has helped keep the index elevated. A reading of 90 or better reflects a healthy economy.
Consumer confidence, by month:
Sept. 126.3
Oct. 126.1
Nov. 126.8
Dec. 128.2
Jan. 131.6
Feb. (est.) 132.5
Source: FactSet
HOME SWEET HOME
Lower mortgage rates helped boost sales of new homes in 2019 after a weak start to the year.
All told, sales of newly built U.S. homes climbed 10.3% last year to 681,000. That’s the highest total since 2007, when the housing bubble was beginning to deflate ahead of the Great Recession. Did the trend continue this year? Find out Wednesday, when the Commerce Department serves up its January tally of new home sales.
New home sales, seasonally adjusted annual rate, by month:
Aug. 708,000
Sept. 725,000
Oct. 705,000
Nov. 697,000
Dec. 694,000
Jan. (est.) 710,000
Source: FactSet
STRONG FINISH?
Wall Street expects that Best Buy closed out its last fiscal year with another solid quarter.
Analysts predict the consumer electronics retailer will report Thursday that its fiscal fourth-quarter earnings and revenue increased from a year earlier. That would echo the company’s results in the previous three quarters. Investors will be listening for an update on Best Buy’s profit expectations for the current quarter.