The U.S. housing market, Fed appearances and new U.K. finance minister. Plenty to watch this week.

Key developments to watch in the week ahead:

U.S. housing data

The focus from last week’s U.S. inflation data will turn to the housing market with reports due on housing starts, existing home sales and building permits. House prices dropped for the first time in over 10 years in July as increasing interest rates hit the housing demand. The number of mortgage applicants has also dropped.

Regional Fed members Charles Evans, James Bullard and Neel Kashkari are due to make appearances that will certainly be closely watched.

U.K attempt to restore calm

Last Friday the emergency bond-buying program has ended, as a result, trading this week will occur without support from the Bank of England.

U.K.'s new finance minister, Jeremy Hunt, promises to repair the damage caused by Kwasi Kwarteng after his original economic plan. Comments that the government plans to do a major U-turn on tax cuts have eased some fears over public finances.

Investors will also be monitoring Wednesday’s U.K. inflation data for September; it is expected to hit double figures.

Chinese data

On Tuesday, China is due to release its Q3 GDP data while growth is expected to bounce back from the prior quarter. The Chinese economy is still expected to post its slowest annual rate of growth in almost 50 years.

Market experts estimate China’s economy to grow by 3.2% in 2022, well below the official target of about 5.5%.

Earnings:

• Bank of America is expected to release an EPS of $0.78 with revenue of $23.56 billion as the earnings season kicked off last week.

• Sandvik AB is expected to report an EPS of 2.73kr with revenue of 26.89kr billion (SEK).

• Charles Schwab is due to report an EPS of $1.05 with revenue of $5.42 billion.

(sources: investing.com)