Traders will enjoy a break this week as the Christmas holiday approaches, though a few significant economic reports will still capture their attention before the festive season. Stock markets will close early on Wednesday, December 24, at 1 p.m. EST, while bond markets will conclude trading at 2 p.m. EST. Both markets will be closed on Thursday, December 25, in observance of Christmas.
Key among the anticipated economic reports is the preliminary estimate of third-quarter Gross Domestic Product (GDP). This initial report was delayed due to the government shutdown and is set to be released on Tuesday, December 23. Typically, the Bureau of Economic Analysis (BEA) publishes three reports for GDP, but this time around, only two estimates followed by a final report on January 22 will be available. The previous quarter had shown a remarkable rebound with growth hitting 3.8% following a 0.6% contraction in the first quarter, largely driven by increased imports amid tariff threats.
In addition to the GDP estimate, several other important economic indicators will be released on Tuesday. Analysts will also receive data on durable goods orders for October, along with industrial production and capacity utilization figures for both October and November. The consumer confidence survey for December, scheduled to be released on the same day, will provide further insights into the economic landscape as the holiday shopping season unfolds.
As a wrap-up to the trading week, initial jobless claims for the week ending December 20 will be reported on Wednesday, coinciding with the early market closures. The prior week’s employment report indicated a rise in unemployment for November, making this data particularly crucial for investors.
While the holiday season is often synonymous with joy and togetherness, it can also lead to financial strain for many households. Insight into the effects of holiday spending on personal finances has been explored by Investopedia, shedding light on the balance between festive spending and financial stability.
This week, traders and investors alike will be keeping a keen eye on these economic indicators as they prepare to embrace the holiday spirit.