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Consumer, housing data in focus

David Russell (david.russell@optionmonster.com)

Economic data focuses on housing and consumers this week, which is shortened by the Thanksgiving holiday.

The only items on the calendar today are existing home sales and the housing market index, both of which will be released at 10 a.m. ET. Existing home sales are expected to remain at September annualized pace of 4.75 million. The housing market index, which measures builder sentiment, is forecast to remain unchanged at 41.

Housing starts from the Commerce Department follow tomorrow. Wednesday will see mortgage purchase applications, initial jobless claims, and consumer sentiment. Claims and sentiment would normally be released on Thursday and Friday, respectively, but were moved forward because Thursday's holiday.

Despite the day off, Thursday will be busy with European economic data in the morning and the ramp-up to the holiday shopping season. That could shift attention to American consumers late in the week.

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