This week: Home prices, Walgreens earnings, June jobs report
Jun 27, 2021, 10:00 PM | Updated: Jun 28, 2021, 12:47 am
A look at some of the key business events and economic indicators upcoming this week:
HOT HOT HOT
The S&P CoreLogic Case-Shiller 20-city home price index for April is released on Tuesday.
Economists aren’t expecting home prices to come down any time soon, projecting a 14.4% increase over the same period last year. That follows March’s big 13.3% year-over-year jump. America’s housing market has grown so overheated as demand outpaces supply that prices keep hitting record highs. Roughly half of all U.S. houses are now selling above their list price.
Home prices, percentage increase, year-over-year:
Nov. 9.2
Dec. 10.2
Jan. 11.1
Feb. 12
Mar. 13.3
Apr. (est.) 14.4
Source: FactSet
THESE BOOTS
Walgreens Boots Alliance releases its latest quarterly financial results on Thursday.
Analysts expect Deerfield, Illinois-based Walgreens to post earnings per share of $1.15 for the third quarter. That’s far ahead of the same period last year when the coronavirus pandemic was peaking, but less than the $1.47 in the same period of 2019. Walgreens surprised Wall Street last quarter, easily topping profit forecasts but falling short of sales projections.
JOBS APLENTY
The Labor Department on Friday will release employment data for the month of June.
Economists are projecting that 650,000 nonfarm payroll jobs were added in the U.S. in June, which, in more normal times, would be a blockbuster number. But in the wake of an overnight recession that paralyzed the economy and triggered tens of millions of layoffs, the nation still remains 7.6 million jobs short of the number it had in February 2020, just before viral pandemic erupted.
Nonfarm payrolls, monthly change, seasonally adjusted:
Jan. 233,000
Feb. 536,000
Mar. 785,000
Apr. 278,000
May 559, 000
June (est.) 650,000
Source: FactSet
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