US stock markets closed at all-time highs yesterday and futures are currently pointing to a positive open.
We’re about to get a ton of data that could quickly change the momentum of this market.
Here’s a preview of upcoming events courtesy of Calculated Risk’s Bill McBride:
• At 8:30 AM, the Census Bureau will release Housing Starts for April. The consensus is for total housing starts to decrease to 969 thousand (SAAR) in April mostly because of a decline in multi-family starts.
• Also at 8:30 AM, the Consumer Price Index for April will be released. The consensus is for a 0.3% decrease in CPI in April (due to lower gasoline prices and for core CPI to increase 0.2%.
• Also at 8:30 AM, The initial weekly unemployment claims report will be released. The consensus is for claims to increase to 330 thousand from 323 thousand last week.
• At 10:00 AM, the Philly Fed manufacturing survey for May. The consensus is for a reading of 2.2, up from 1.3 last month (above zero indicates expansion).
• At 12:30 PM, Speech by Fed Governor Sarah Bloom Raskin, Prospects for a Stronger Recovery, At the Society of Government Economists and National Economists Club, Washington, D.C