This Week: Home sales, jobless claims, Cinemark earns
A look at some of the key business events and economic indicators upcoming this week:
HOME SALES PERKING UP?
Economists project that sales of previously occupied homes edged higher in January from a month earlier.
The pace of U.S. home sales slowed in December to a seasonally adjusted annual rate of 5.57 million units. Despite the setback, sales totaled 5.51 million in 2017. That was the highest level since 2006. The National Association of Realtors is expected to report Wednesday that sales rose to a seasonally adjusted annual rate of 5.60 million last month.
Existing home sales, in millions, seasonally adjusted annual rate:
Jan. (est.) 5.60
EYE ON UNEMPLOYMENT
Unemployment benefit claims, a proxy for layoffs, have been below 300,000 for three years.
That’s the longest stretch in more than four decades and reflects a strong labor market and low rate of U.S. unemployment, now at a 17-year low of 4.1 percent. The Labor Department issues its weekly tally of applications for unemployment benefits Thursday.
Initial jobless benefit claims, weekly, seasonally adjusted:
Jan. 12: 216,000
Jan. 19: 231,000
Jan. 26: 230,000
Feb. 2: 223,000
Feb. 9: 230,000
Feb. 16: (est.) 230,000
AT THE MOVIES
Movie theater owner Cinemark Holdings serves up its latest quarterly results Friday.
Financial analysts predict the company’s earnings declined in the final quarter of 2017 versus a year earlier, even as revenue increased. That would cap a year of mixed results for Cinemark. The company’s earnings declined in the second and third quarter after finishing higher in the first three months of the year.