AP NEWS
Click to copy
Click to copy

This Week: Home Depot results, Fed minutes, new home sales

August 19, 2019

A look at some of the key business events and economic indicators upcoming this week:

SOLID QUARTER?

Wall Street expects another solid quarterly snapshot from Home Depot.

Financial analysts predict the home improvement retailer will report Tuesday that its profit grew in the second quarter. That would echo results from the first quarter. Home Depot’s sales have been rising, despite the impact of inclement weather earlier this year.

A CLOSER LOOK

The Federal Reserve releases minutes of its last meeting of policymakers Wednesday.

At the meeting late last month, Fed officials decided to cut the central bank’s key interest rate for the first time in a decade. The Fed also left open the possibility of future rate cuts as it looks to stimulate the economy amid uncertainty over global trade tensions.

HOUSING MARKET BELLWETHER

Low mortgage rates and a healthy job market have helped drive U.S. home sales this year.

But rising prices and fierce competition for a tight inventory of homes on the market has held back growth. When it comes to newly built homes, sales are up just 2.2% from a year earlier in the first half of 2019. The Commerce Department issues its July tally of new home sales Friday.

New home sales, seasonally adjusted annual rate, by month:

Feb. 669,000

March 693,000

April 658,000

May 604,000

June 646,000

July (est.) 645,000

Source: FactSet

All contents © copyright 2019 The Associated Press. All rights reserved.