3 Economic Events That Could Affect Your Portfolio This Week, December 30, 2024 – January 3, 2025

Despite the widespread sell-off on Friday, stocks managed to close the last full trading week of 2024 with gains. The S&P 500 (SPX) rose by 0.67% and the Dow Jones Industrial Average (DJIA) increased by 0.35%. Meanwhile, the tech benchmarks Nasdaq Composite (NDAQ) and Nasdaq-100 (NDX) gained 0.76% and 0.86%, respectively.

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After a strong start to the week, investors returned from the Christmas break in an anxious mood, with markets finishing nearly flat on Thursday and tumbling on Friday. The week’s last session saw all S&P 500 sectors in the red, despite thin trading, following a jump in 10-year Treasury yields to their highest in six months amid inflation worries and expectations of slower Fed easing than was previously priced in.  

Three Economic Events

Here are three economic events that could affect your portfolio this week. For a full listing of additional economic events, check out the TipRanks Economic Calendar.

» December’s Chicago PMI – Monday, 12/30 – This report captures business conditions across Illinois, Indiana, and Michigan, and is generally accepted as a solid representative of overall U.S. economic conditions. The Chicago PMI serves as a leading indicator, helping policymakers and investors to anticipate changing economic trends in GDP, industrial production, employment, and inflation.

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» November’s Pending Home Sales – Monday, 12/30 – This report is a leading indicator of trends in the U.S. housing market and reflects contract activity in the market for existing homes, since this market accounts for 85% to 90% of U.S. home sales annually. It accurately reflects economic conditions and consumer confidence and is closely watched by investors and policymakers for clues about the health of the economy.

» November’s ISM Manufacturing PMI – Friday, 01/03 – This report shows business conditions in the U.S. manufacturing sector and serves as a significant indicator of overall economic conditions. PMIs are considered one of the most reliable leading indicators for assessing the state of the U.S. economy, helping analysts and economists anticipate changing economic trends.

For more exclusive market insights and content from TipRanks Macro & Markets research analyst Yulia Vaiman, click here.