The day ahead: Friday

August 20, 2009

Existing home sales data and a speech from Fed Chairman Ben Bernanke will hold the spotlight on Friday.

  • Sales of existing homes probably rose to their highest level in 10 months in July, according to a Reuters poll, as buyers rushed to take advantage of a tax credit for first-time homeowners.
  • Policy-makers from around the world are in Jackson Hole, Wyoming for the Kansas City Federal Reserve’s yearly conference. Fed Chairman Ben Bernanke takes the podium at 10:00 a.m. EDT to share his thoughts on how sustainable the recent economic recovery is.
  • GM’s board of directors is expected to address the sale of Opel and aims to recommend one of two competing bids for the German unit.

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