This week, a look at the earnings reports will gauge consumer spending. Reports will come from Barnes and Noble, Tiffany’s and Kroger. There will also be data on GDP, income and spending and home prices.
A second estimate of third quarter GDP, which looks at all of the goods and services produced from July through September, will give insight of the economy. The initial estimate showed the economy grew by 2 percent. This boost occurred due to government and consumer spending.
October’s personal income report should also check on consumer financing. September’s consumer wages rose by four tenths of a percent while spending rose nearly 1 percent. This increase was driven by auto sales.
Finally, the September Case-Shiller Home Price Index report, which tracks housing price changes in twenty metro areas, reported an increase in home prices by half of 1 percent.
This marks the biggest monthly increase of the past seven months.
That is your CNBC market look ahead for theGrio.com