Upcoming Key Economic Events

As traders approach another pivotal day for financial markets on Tuesday, December 10, 2024, several crucial decisions and economic data releases may sway market dynamics. The day's agenda includes significant events such as the OPEC meeting and the release of unit labor costs and nonfarm productivity data, along with the closely watched API Weekly Crude Stock report.

Major Economic Events to Watch

• 5:00 AM ET: OPEC Meeting
  Representatives from 13 oil-rich nations will discuss energy markets and production levels.

• 8:30 AM ET: Unit Labor Costs

  • Forecast: 1.9%
  • Previous: 0.4%
    This is a key indicator of consumer inflation.

• 8:30 AM ET: Nonfarm Productivity

  • Forecast: 2.2%
  • Previous: 2.5%
    Measures changes in labor efficiency outside the farming industry.

• 12:00 PM ET: WASDE Report
  USDA forecasts of supply-use balances for major agricultural commodities.

• 12:00 PM ET: EIA Short-Term Energy Outlook
  Provides forecasts and analysis of energy markets.

• 1:00 PM ET: 3-Year Note Auction

  • Previous: 4.152%
    Indicator of the government debt situation.

• 4:30 PM ET: API Weekly Crude Stock

  • Previous: 1.232M
    Reports inventory levels of US crude oil, gasoline, and distillates.

Other Economic Events to Watch

• 6:00 AM ET: NFIB Small Business Optimism

  • Forecast: 94.6
  • Previous: 93.7
    Indicates the health of small businesses in the U.S.

• 8:55 AM ET: Redbook

  • Previous: 7.4%
    A sales-weighted index of year-over-year same-store sales growth.

For further information and the latest updates, please refer to our Economic Calendar, here.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.