It's the 23rd of December, the Friday before the Christmas weekend.
But the Bureau of Economic Analysis and the US Census Bureau are not ready to kick back with the egg nog just yet, with some important data points still to come in today's session.
Here are some things to look out for today
According to polled analysts, the Fed's preferred price measure, the PCE deflator, likely eased last month.
The gauge is expected to end the year lower than the median FOMC participant predicted in the most recent summary of economic projections.
Japan's key inflation gauge rose to its highest level since 1981, fueling speculation that the Bank of Japan will surprise markets with another policy change in the near future.
8:30 AM ET
US Consumer Spending MoM for November - Median Forecast: 0.2% | Range: 0.4% / -0.1% | Prior 0.8%
Remember, households on average spend 95% of their income, fuelling 2/3 of the economy, making it the largest GDP component.
US PCE Price Index YoY - Median Forecast: 5.5% | Range: 5.7% / 5.4% | Prior: 6%
The Fed's preferred inflation gauge, especially the 'core' reads.
US Durable Goods Orders November Prelim - Median Forecast -1% | Range: 0.8% / -3.5% | Prior: 1.1%
Canadian GDP MoM for October - Median Forecast: 0.1% | Range: 0.4% / 0% | Prior: 0.1%
10:00 AM ET
University Michigan Sentiment December Final - Median Forecast: 59.1 | Range: 61 / 58 | Prior: 59.1
This differs from the Conference Board consumer confidence, as it is more real-time, uses 40% of the same sample for 6 months, and has more focus on how consumers feel about the consumption of durable goods, while the CB read focuses on general consumption and employment.
US New Home Sales (Units) for November - Median Forecast: 0.6M | Range: 0.64M / 0.5M | Prior: 0.632M
Good luck, and happy holidays from the FJ Team!