Market Domination Overtime anchors Julie Hyman and Josh Lipton preview the biggest stories to come for tomorrow, Thursday, May 15, including the release of May's preliminary consumer sentiment reading and US housing starts and building permits data.
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Time now for to watch Friday May 16th, sponsored by Tasty trade, gonna start off on the economy. Because we're going to be getting another read on the consumer in the morning with May's consumer sentiment data. Economists expecting that number to rise to 53.4, marking the first increase since December, but still remaining historically low.
Sticking with tomorrow's consumer sentiment, Brian economists see forward-looking inflation expectations staying put compared to the previous reading, signaling that consumers still see inflation staying elevated in the coming years.
And moving over to housing, monthly housing starts and building permits data coming out in the morning. Housing starts expected to increase to 1.36 million, while building permits decline to 1.45 million, meaning more homes are actually breaking ground, but fewer new projects are getting approved. This coming after mortgage rate data from Freddie Mac today, 30 year fixed rising to 6.81%. All the new data giving us more insight into that sluggish housing market.