Week Ahead: Job Openings Are the Highlight of a Data-Light Week
Digesting the Jobs Report: Realist Real Estate Roundup
Light data ahead
There isn’t usually a lot of data the week after the jobs report. This week isn’t an exception. Investors will still be digesting the jobs report from last Friday. The biggest data points this week will be the JOLTS jobs report and retail sales.
There aren’t many earnings reports this week for real estate investors. The main one is from Chimera.
Economic data this week
Here’s a rundown of this week’s economic data.
Monday, February 8:
Labor Markets Conditions Index
Tuesday, February 9:
NFIB Small Business Optimism
JOTS Job Openings
Wholesale Sales
Wholesale Inventories
Wednesday, February 10:
MBA (Mortgage Bankers Association) mortgage applications
Monthly Budget Statement
Thursday, February 11:
initial jobless claims
Bloomberg Consumer Comfort
Friday, February 12:
Import Price Index
Retail Sales
Business Inventories
University of Michigan Consumer Sentiment
Earnings reports
Wednesday, February 10:
Chimera Investment Management (CIM)
Impact on mortgage REITs
REITs like Annaly Capital Management (NLY) and American Capital Agency (AGNC) will likely focus mainly focus on data that will move the bond market. For them, it will be all about the JOLTS jobs report. The Bank of Japan’s surprising move to implement negative interest rates pushed global bond yields much lower. Investors who want to bet on interest rates can look at the iShares 20+ Year Treasury Bond ETF (TLT).
Impact on homebuilders
Homebuilders like Lennar (LEN) and CalAtlantic (CAA) will likely focus on the JOLTS job opening report as well. There simply isn’t much data this week for them. The spring selling season is just around the corner. It unofficially kicks off next week. Investors can trade the homebuilding sector through the SPDR S&P Homebuilders ETF (XHB).
Browse this series on Market Realist:
