United States

Investors weigh Hurricane Harvey's impact on the economy and markets

WEEKLY MARKET COMMENTARY  | 

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The week ahead in economics and financial markets will focus on damage estimates to Houston, which is the fourth largest city in the U.S., the second largest port in the economy and has a gross domestic product (GDP) of roughly $530 billion. Apart from the landmark natural weather event and its aftermath, forward-looking firms and investors will cautiously await a spate of first-tier data that will culminate with the Friday, Sept. 1 publication of the estimate of the August employment report, Institute for Supply Management manufacturing data and total vehicle sales report.

Federal Reserve Governor Jerome Powell will speak on the role of boards at large financial firms on Thursday, Aug. 31, and the U. S. Treasury will issue $26 billion in two-year notes and $34 billion in five-year notes on Monday, Aug. 28. Canadian Q2 2017 GDP will be published on Thursday, Aug. 31, while euro-area inflation and unemployment will also be released on that same day.

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