October 24 is a crucial day as several key economic indicators will be released, having a direct impact on the market and the Federal Reserve’s policy decisions.

1. Initial Jobless Claims

• This index measures the number of people filing for unemployment benefits for the first time. While a lagging indicator, it still reflects the state of the labor market, which influences consumer spending and monetary policy decisions.

2. Flash Manufacturing PMI

• A leading indicator of the manufacturing sector’s health, based on surveys of 800 purchasing managers. It provides insights into production, new orders, and employment levels.

3. Flash Services PMI

• Based on surveys of 400 purchasing managers in the services sector, this index offers a snapshot of the health of the service industry and is a key factor in short-term economic forecasts.

4. New Home Sales Report

• This report is a critical indicator of economic health, reflecting housing sales trends. New home sales significantly influence related sectors such as construction and finance, directly contributing to GDP growth.

Market Outlook

• If data points to weaknesses in the labor market or the manufacturing and services sectors, the Fed may consider adjusting interest rates to support economic growth. Conversely, strong data may prompt the Fed to maintain or increase rates to control inflation.