Markets head into an active Friday, July 17, 2026, with a concentrated set of economic releases and a presidential address that together could influence prices and risk appetite. Investors and analysts will be parsing building permits and housing starts for signs on residential demand, watching industrial production and manufacturing output for momentum in goods-producing sectors, and evaluating the University of Michigan’s consumer sentiment readings for a snapshot of household attitudes. A speech from U.S. President Trump, delivered late on July 16 ET, is also on the calendar and may affect market sentiment or policy expectations.
Key scheduled items and their timing
- 7:30 AM ET - Building Permits: Forecast 1.400M, Previous 1.410M - This series measures the change in the number of new building permits issued by the government and is a key indicator of demand in the housing market.
- 7:30 AM ET - Housing Starts: Forecast 1.310M, Previous 1.177M - Housing starts report the change in the annualized number of new residential buildings that began construction during the month, acting as a leading indicator of activity in the construction sector.
- 7:30 AM ET - Building Permits (Monthly): Previous -0.9% - Tracks the monthly percentage change in building permits.
- 7:30 AM ET - Housing Starts (Monthly): Previous -15.4% - Measures the month-over-month change in the number of new constructions underway.
- 7:30 AM ET - Import Price Index: Forecast -0.7%, Previous 1.9% - Measures the change in prices of imported goods and services purchased domestically.
- 7:30 AM ET - Export Price Index: Forecast -0.4%, Previous 1.3% - Tracks price changes of U.S. export goods.
- 8:15 AM ET - Industrial Production: Forecast 0.2%, Previous 0.1% - Measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
- 8:15 AM ET - Industrial Production (Yearly): Previous 1.67% - The year-over-year change in industrial output.
- 8:15 AM ET - Manufacturing Output: Forecast 0.1%, Previous 0.0% - A subset of industrial production focused on manufacturers.
- 8:15 AM ET - Capacity Utilization Rate: Forecast 76.2%, Previous 76.2% - The percentage of production capacity being utilized in the U.S.
- 9:00 AM ET - Michigan Consumer Sentiment: Forecast 51.0, Previous 49.5 - The University of Michigan index gauges consumers’ views of current and future economic conditions based on a survey.
- 9:00 AM ET - Michigan Consumer Expectations: Forecast 51.7, Previous 50.7 - The expectations component of the Michigan index.
- 9:00 AM ET - Michigan Current Conditions: Forecast 48.7, Previous 47.7 - The current conditions component of the Michigan index.
- 9:00 AM ET - Michigan 1-Year Inflation Expectations: Previous 4.6% - The median expectation among consumers for price changes over the next 12 months.
- 9:00 AM ET - Michigan 5-Year Inflation Expectations: Previous 3.3% - The median expectation among consumers for price changes over the next five years.
- 9:45 AM ET - Atlanta Fed GDPNow: A running estimate of real GDP growth based on currently available economic data for the measured quarter.
- 12:00 PM ET - Baker Hughes U.S. Rig Count: A business barometer for the oil drilling industry and a leading indicator of demand for oil products.
- 12:00 PM ET - U.S. Baker Hughes Total Rig Count: The total count of active drilling rigs in the United States.
- 2:30 PM ET - CFTC Gold Speculative Positions: Previous 194.2K - Weekly net positions for speculative traders in gold futures markets.
- 2:30 PM ET - CFTC Crude Oil Speculative Positions: Previous 75.7K - Weekly net positions for speculative traders in crude oil futures markets.
- 2:30 PM ET - CFTC S&P 500 Speculative Positions: Previous -42.9K - Net positions for speculative traders in S&P 500 futures markets.
- 2:30 PM ET - CFTC Nasdaq 100 Speculative Positions: Previous 2.1K - Net positions for speculative traders in Nasdaq 100 futures markets.
- 2:30 PM ET - CFTC Aluminium Speculative Net Positions: Previous 1.3K.
- 2:30 PM ET - CFTC Copper Speculative Positions: Previous 64.3K.
- 2:30 PM ET - CFTC Soybeans Speculative Positions: Previous 112.8K.
- 2:30 PM ET - CFTC Corn Speculative Positions: Previous 101.0K.
- 2:30 PM ET - CFTC Silver Speculative Positions: Previous 28.0K.
- 2:30 PM ET - CFTC Wheat Speculative Positions: Previous -49.7K.
- 2:30 PM ET - CFTC Natural Gas Speculative Positions: Previous -165.3K.
What these releases reveal
The morning cluster beginning at 7:30 AM ET concentrates on housing metrics and trade-related price indices. Building permits and housing starts provide direct signals about construction activity and near-term supply additions in the residential sector; the forecasts and prior readings are listed above. Import and export price indices arriving at the same time gauge short-term inflationary pressure stemming from traded goods and services.
At 8:15 AM ET, industrial production and related measures such as manufacturing output and capacity utilization will flesh out trends in goods production. Industrial production tracks the inflation-adjusted value of output from manufacturers, mines and utilities and the year-over-year figure gives a broader growth perspective.
The University of Michigan series at 9:00 AM ET will offer a consumer-focused perspective. The headline consumer sentiment figure along with the expectations and current conditions components provide detail on household perspectives about present and prospective economic conditions, and the 1-year and 5-year inflation expectations show how consumers anticipate future price movements.
Later in the day, the Baker Hughes rig counts at noon serve as a near-real-time industry indicator for oil drilling activity, while the 2:30 PM ET batch of CFTC speculative position reports will outline weekly shifts in positioning across a range of commodity and equity futures markets, including gold, crude oil, major stock-index futures, and several agricultural and base-metal markets.
Context for market participants
Given the density of releases, market participants may react to any single headline that deviates from expectations. Housing data and industrial production are often monitored by fixed-income traders for implications on economic momentum and inflation, while the Michigan sentiment readings are watched for signs of strength or weakness in consumer spending outlooks. The CFTC position reports offer transparency into speculative flows that can amplify moves in commodity and futures markets.
Key points
- Friday’s schedule includes a concentration of housing, industrial and consumer indicators that collectively illuminate demand conditions in housing, manufacturing output and household sentiment.
- A speech by U.S. President Trump on the evening of July 16 ET could alter market tone ahead of Friday’s economic data releases.
- CFTC speculative position reports and Baker Hughes rig counts provide additional, market-specific signals for commodities and energy sectors.
Risks and uncertainties
- Unexpected deviations in building permits or housing starts could change near-term expectations for the housing and construction sectors.
- Industrial production or manufacturing output figures that differ materially from forecasts could alter assessments of goods-sector momentum and capacity utilization.
- Movements in consumer sentiment or inflation expectations in the University of Michigan reports could affect views on household spending and inflation risks.
How to follow developments
Traders and analysts should watch the scheduled release times carefully and consider that any single data point may prompt short-term re-pricing. For those tracking oil and commodities, the Baker Hughes rig counts and the CFTC speculative position reports at 2:30 PM ET will be particularly relevant. For an ongoing feed of scheduled economic releases, refer to the Economic Calendar.
These scheduled items together form a cross-section of indicators - from permits and starts in housing to production metrics and consumer sentiment - that market participants will use to refine near-term economic and market assessments on Friday, July 17, 2026.