FXstreet

The week ahead brings important updates on US second-quarter gross domestic product (GDP), a number of reads on the housing market, and earnings from retailers and advertising giant WPP .



But the launch of the new Madden NFL 15 video game from Electronic Arts could grab more headlines than most.

Electronic Arts’ share price has jumped in recent days, perhaps on the back of positive publicity for the new game, so Tuesday’s launch of the new game will be closely watched.

Back in the real world, this week brings a slew of statistics on the health of the US economy, including updates on GDP, durable goods, personal consumption, personal spending, initial jobless claims, and a number of reads on the housing market.

The Commerce Department is expected to release new home sales statistics for July on Monday, the S&P/Case-Shiller index on US home prices in the 12 months to June is due on Tuesday, and numbers on pending home sales are expected on Thursday.

Thursday also brings a second estimate from the US Commerce Department on second quarter GDP, with economists hoping that stronger investment by businesses and healthier consumer spending will lead to a similar read on second quarter growth to the Commerce Department’s initial 4 per cent estimate at the end of July.

US durable goods orders for July are due on Tuesday, weekly initial jobless claims and second quarter personal consumption statistics are expected on Thursday, and July’s personal spending statistics are expected on Friday.

The earnings news this week comes from Best Buy BBY +0.22%, Agricultural Bank of China and advertising and marketing giant WPP on Tuesday, Tiffany and China Telecom on Wednesday, and Dollar General on Thursday.

The S&P 500 has successfully navigated choppy waters in 2104 and is up almost 8 per cent for the year so far, and it still take a brave investor to call the top of the market despite genuine concerns of lofty valuations and bubbles in many sectors and markets.



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