Moving the markets this week will be General Motors, which has a new CEO and is said to be planning its post-bailout IPO early in the week. Tuesday brings release of, the Producer Price Index for July and a future of housing finance conference hosted by Treasury Secretary Tim Geithner. The business week ends with the Conference Board’s release on Friday of leading economic indicators for July. Meanwhile, a Japanese government estimate on August 16 that its GDP was $1.288 trillion in the second quarter made it likely that China, which was now the world’s second-largest economy, would stay ahead of Japan through 2010 and beyond; China’s GDP for the second quarter ended June 2010 was $1.339 trillion. China still has a way to go to catch up with the U.S.: total U.S. GDP for 2009 was more than $14 trillion.
On Monday, August 16, the Fed conducts its weekly release of selected interest rates, along with it weekly foreign exchange rates, while the Bureau of the Public Debt reports on 13- and 26-week Treasury auction results. The National Assn. of Home Builders reports its August housing index.
On Tuesday, August 17, the Bureau of Labor Statistics releases the July Producer Price Index; the Census Bureau releases new housing starts; and the Fed releases industrial capacity and utilization numbers. Treasury Secretary Tim Geithner is the host of a Washington conference on the future of the housing finance market (troubled Fannie Mae and Freddie Mac will be topics of conversation).
On Wednesday, August 18, the Mortgage Bankers Association releases its report on home-loan applications.
On Thursday, August 19, the Conference Board releases its Composite Indexes of Leading, Coincident and Lagging economic indicators for July, while the Labor Dept. releases weekly jobless claims.