There were several economic reports for market investors to sift through last week.
Retail sales were flat in July due to weaker auto sales. Small business optimism improved in July as businesses planned to hire. Regarding hiring, the number of job openings grew in June. In an interesting observation, the number of workers quitting their jobs rose as well. Quitting a job is considered a sign of confidence in the labor market.
In the week ahead we expect earnings reports from Home Depot, Lowes and Target as well as housing and inflation data.
We’ll also get two key reads on housing with the July housing starts report. In June new construction fell more than nine percent marking two months of decline led by a dip in single-family homes and building permits, a gauge of future building activity also declined.
Next week we’ll also get the July home sales report. In June sales of previously owned homes rose by nearly three percent and the median sales price increased by four percent compared to a year ago to 223-thousand dollars.
We’ll check on inflation with the July consumer price index report which tracks price changes for food, clothing and energy. Consumer prices increased in June by three-tenths of one percent due to higher gas prices.
And that’s your Grio.com market look ahead. I’m Shartia Brantley with CNBC.