U.S. outgoing Federal Reserve Chair Janet Yellen holds a news conference after a two-day Federal Open Market Committee meeting in Washington, U.S. December 13, 2017.Here are the most important things to know about Friday before you hit the door.We'll get a slew of economic data on Friday including durable goods, personal income, consumer spending and consumer sentiment. Consumer spending, which accounts for more than two-thirds of U.S.
Consumer spending data will come out at 8:30 a.m. from the Commerce Department. Economists are expecting a 0.3% rise in personal spending in August, which rose 0.6% inThe Commerce Department will also release durable goods order numbers for August on Friday. Economists estimate a drop of 1% in goods orders in August. Durable goods orders increasedbut shipments of core capital goods fell 0.7% last month, the biggest drop since October 2016.
Preliminary data for consumer sentiment showed a bigger-than-expected advance as consumers felt more confident about current and future economic conditions. The initial September reading on consumer sentiment rose to 92 from 89.8 in August, according toThe final number will be released at 10:00 a.m. on Friday and economist polled by Dow Jones are expecting a print of 92.
Last week, major indexes snapped a three-week winning streak on news that Chinese officials were cutting short their visit to the U.S., dampening hope around a trade deal. The S&P 500 is down about 0.45 so far this week heading into Friday. Markets have been weighed down this week by an impeachment inquiry into Trump and concern that could hinder progress on trade deals.8:30 a.m. Fed Vice Chairman for Supervision Randal Quarles