The week ahead brings important updates on US second-quarter gross domestic product (GDP), a number of reads on the housing market, and earnings from retailers and advertising giant WPP .
But the launch of the new Madden NFL 15 video game from Electronic Arts could grab more headlines than most.
Electronic Arts’ share price has jumped in recent days, perhaps on the
back of positive publicity for the new game, so Tuesday’s launch of the
new game will be closely watched.
Back in the real world, this week brings a slew of statistics on the
health of the US economy, including updates on GDP, durable goods,
personal consumption, personal spending, initial jobless claims, and a
number of reads on the housing market.
The Commerce Department is expected to release new home sales statistics
for July on Monday, the S&P/Case-Shiller index on US home prices in
the 12 months to June is due on Tuesday, and numbers on pending home
sales are expected on Thursday.
Thursday also brings a second estimate from the US Commerce Department
on second quarter GDP, with economists hoping that stronger investment
by businesses and healthier consumer spending will lead to a similar
read on second quarter growth to the Commerce Department’s initial 4 per
cent estimate at the end of July.
US durable goods orders for July are due on Tuesday, weekly initial
jobless claims and second quarter personal consumption statistics are
expected on Thursday, and July’s personal spending statistics are
expected on Friday.
The S&P 500 has successfully navigated choppy waters in 2104 and is
up almost 8 per cent for the year so far, and it still take a brave
investor to call the top of the market despite genuine concerns of lofty
valuations and bubbles in many sectors and markets.
