What to Watch for this Week
This week we will see housing starts and other real estate reports for September 2017. The pace of single-family starts isn’t quick enough to alleviate the supply pressures in the housing market that are crimping affordability for prospective homeowners. That isn’t expected to improve next month when the force of the impact from Hurricanes Harvey and Irma weighs on housing starts activity.
- Housing Starts for August declined 0.8% month-over-month
- Building permits jumped 5.7%
- The number of total housing units under construction at the end of August was 1.082 million
- Existing home sales declined 1.7% month-over-month in August
This was the most viewed post last week. — More on the Pension Crisis
Global Spotlight
- Catalan Independence Is Still Uncertain. Catalonia and Madrid continued to wrestle with the implications of the region’s Oct. 1 independence referendum this week.
- Tensions Rise in Kirkuk. Tension has ratcheted up between the Kurdish peshmerga and pro-Baghdad Shiite militias and Iraqi security forces.
- A Chinese Party Congress to Watch. The Chinese Communist Party on Oct. 18 begins its most politically charged event of the year — the 19th Party Congress.
- NAFTA Negotiations Hit a Snag. NAFTA negotiations are in a critical phase. The fourth round of talks began Oct. 11, and will deal with some of the thorniest issues. Most of these issues stem from proposals tabled by the U.S. delegation during the negotiations.
- In the Iranian Nuclear Deal, the U.S. Seeks Change. President Donald Trump announced a new Iran policy Oct. 13 that included not recertifying the Joint Comprehensive Plan of Action. Trump held off on reapplying sanctions against Iran, but called on Congress to adjust U.S. law so that sanctions automatically snap back into place if Iran violates the deal.
However, in the event we are not able to reach a solution working with Congress and our allies, then the agreement will be terminated. It is under continuous review, and our participation can be cancelled by me, as President, at any time. – U.S. President Donald Trump
Stratfor.com
Earnings
Here are the impled moves for the SP500 stocks that are reporting this week.
Economic Calendar
Here is a list of the U.S. economic events happenning this week.
Last Weeks Numbers
Review Last weeks numbers here.
