US Economic Calendar Packs Packed Schedule Amid Stock Market Volatility
The US economic calendar is packed today with several releases that will provide insight into employment, consumer activity, services, and housing conditions. At 10:00 AM ET, key data points include Richmond Fed Manufacturing and Business Conditions, Conference Board Consumer Confidence, Present Situation and Expectations, and July New Home Sales.
The Treasury's 2 Year Note Auction at 1:00 PM ET may also influence markets as the front end of the Treasury curve is sensitive to Federal Reserve expectations. API energy inventories close out the calendar at 4:30 PM ET.
Crypto and stock traders will be watching key levels for SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA as markets respond to the data releases. For SPY, a move above 785.00 would improve the short-term structure, while sustained weakness below 761.00 could expose 755.00.
NVIDIA Corporation (NVDA) remains an important leadership gauge for semiconductors and QQQ, with buyers needing to defend its current area to prevent further losses.