What key events and releases will be driving the markets next week?

Tuesday , August 23

• various flash PMI estimates for Europe and UK
• US/services and manufacturing PMI indices, 9:45 AM ET. Manufacturing PMI 52.0 vs. 52.2 last month. Services PMI 50.0 vs. 47.3 last month
• US new home sales, 10 AM ET. Estimate 574K vs. 590K last
• Richmond Fed manufacturing index for August. 10 AM ET. Estimate -6 vs. 0 last month

Wednesday, August 24

• US durable goods orders. 8:30 AM ET. Estimate 0.9% vs. 2.0% last month
• US pending home sales. 10 AM ET. Estimate -2.1% vs. -8.6% last month

Thursday, August 25

• New Zealand retail sales Q/Q. 6:45 PM ET (Wednesday). Estimate 1.7% vs. -0.8% last quarter
• German Ifo business climate. 4 AM ET. Estimate 86.7 vs. 88.6 last month
• US preliminary GDP for 2Q. 8:30 AM ET. -0.8% vs. -0.9%.
• US unemployment claims. 8:30 AM ET. Estimate 250K unchanged from last week
• Jackson Hole symposium. All day

Friday, August 26

• US core PCE price index. 8:30 AM ET. Estimate 0.3% vs. 0.6% last month.
• US personal income/consumption. 8:30 AM ET. Personal income estimate 0.6% vs. 0.6% last. Personal consumption 0.5% vs. 1.1% last
• US University of Michigan consumer sentiment. 10 AM ET. Estimate 55.3 vs. 55.1 preliminary
• Fed Chair Powell speaks at the Jackson Hole symposium. 10 AM ET.