Here come existing home sales ...
Existing home sales numbers for September are set for release at 10:00 a.m. ET.
Economists estimate that in September, sales of existing single-family homes, condos, and co-ops rose 1.5% at an annualized pace of 5.39 million.
That would be up from a 4.8% decline in the prior period.
Here's Nomura's preview to clients:
"Housing market data appear to have gathered more momentum this year, as improving consumer fundamentals are feeding through to the housing market. The pending home sales index, which usually leads existing home sales by a couple of months, has slowed from Q2, suggesting that home sales may improve at a slower pace in the near term.
Thus, we expect existing home sales to increase by only 0.6% to an annualized 5344k in September. In the medium term, possible headwinds to existing home sales are the tight supply of homes available for sale and higher mortgage rates when the Fed normalizes policy."
We'll be back with the latest details once the data cross.