**IMF ECONOMIC PROJECTIONS**
On Tuesday, the International Monetary Fund (IMF) will release its semi-annual World Economic Outlook report.
In July, the IMF adjusted its economic predictions positively for China, India, and Europe while slightly reducing expectations for both the United States and Japan. The agency foresees the global economy growing at a lackluster rate of 3.2% for this year, maintaining the same outlook from its April report, representing a slight decrease from the anticipated 3.3% growth for 2023.
**GM Q3 EARNINGS REPORT**
General Motors, the well-known automobile manufacturer, is set to announce its financial results for the third quarter on Tuesday morning before market opening.
Market analysts predict that GM, based in Detroit, will report earnings of $2.38 per share on revenues reaching $44.7 billion. In the previous quarter, GM surpassed Wall Street’s expectations for both sales and profits as U.S. customers who purchased new vehicles paid an average of nearly $49,900, which significantly contributed to a 15% increase in the company’s net income compared to last year.
**HOUSING MARKET INSIGHTS**
The National Association of Realtors will provide its latest assessment of the U.S. housing market on Wednesday.
Economists expect that sales of previously owned homes experienced a slight increase in September, projecting an annual adjusted rate of 3.92 million homes sold. August saw a decline in home sales, marking the slowest pace in nearly a year, despite a decrease in mortgage rates and an increase in available properties. Additionally, home prices have risen on a year-over-year basis for the 14th consecutive month.
**Statistics on Existing Home Sales (in millions, seasonally adjusted annual rate):**
– April: 4.14
– May: 4.11
– June: 3.90
– July: 3.96
– August: 3.86
– September (estimated): 3.92
This data is sourced from FactSet.