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Trading Radar: Big Week for US Economic Data

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Economics, earnings reports, and market events for the week ahead.

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MINYANVILLE ORIGINAL

Monday, US markets will be closed for the Memorial Day holiday.

Next week is a busy, holiday-shortened week in the US with the most important economic data of the month. The second estimate of 1Q GDP growth comes out on Thursday and the monthly nonfarm payrolls comes out on Friday. The first estimate saw the US growing at an annualized rate of 1.9%. The PCE deflator, a measure of inflation against growth, is also expected at 1.9%, meaning that US is expected to show no "true" growth in the first quarter. Economists are expecting 150,000 net new jobs in May and an unchanged unemployment rate at 8.1%.

ECB President Mario Draghi will be speaking in Brussels on Wednesday morning with the potential for a hint toward the ECB's actions in front of the following week's rate decision. On the same day, Brazil's central bank will make its monthly rate decision, with policymakers expected to lower the benchmark interest rate for the fourth straight month.

Key earnings reports include Ciena (CIEN), Lions Gate Entertainment (LGF), and Booz Allen Hamilton (BAH).

Monday, May 28

US Economics (Time Zone: EDT)

US Markets closed for Memorial Day Holidays

Global Economics (Time Zone: GMT)

23:30 JPY Jobless Rate
23:50 JPY Retail Trade
5:00 Italy to Sell up to €3.5b zero 2014 bonds
5:00 Italy to sell 2.1% I/L 2016, 2.1% I/L 2017 bonds

No earnings for the holidays


Tuesday, May 29

US Economics (Time Zone: EDT)

09:00 S&P/Case Shiller 20 City Index MoM - consensus 0.20%
09:00 S&P/Case Shiller 20 City Composite YoY - consensus -2.65%
09:00 S&P/Case Shiller US House Price Index YoY - consensus -3.40%
10:00 Consumer Confidence - consensus 69.5
10:30 Dallas Fed Manufacturing - consensus 0.0
11:00 Fed selling $8b-$8.75b notes in 2 to 3-year range
11:30: U.S. to sell $30b 3-mo., $27b 6-mo. bills

Global Economics (Time Zone: GMT)

GBP Home Prices
06:00 CHF UBS Consumption Indicator
12:00 EUR German CPI
10:00 Italy to sell €8.5b 183-day bills
2:00 France to sell up to €4.2b 91-day, €1.5 b 153-day, €2.3b 364-day bills

Earnings

Before:
ScotiaBank(BNS) EPS $1.13, revs $4.33B
After:
Dryships (DRYS) EPS -1c, revs $251.91M
Enersys (ENS) EPS 86c, revs $593.46M


Wednesday, May 30

US Economics (Time Zone: EDT)

07:00 MBA Mortgage Purchase Index
10:00 Pending Home Sales– consensus -0.1%
11:00 Fed to purchase $4.5b-$5.25 notes in 8-10 year range
11:30 U.S. to sell $25b in 52-wk bills
11:30 U.S. to sell 4-week bills

Global Economics (Time Zone: GMT)

01:30 AUD Retail Sales
08:30 GBP Net Consumer Credit
09:00 EUR Eurozone Consumer Confidence
23:50 JPY Industrial Production

Earnings

Before:
Booz Allen Hamilton (BAH) EPS 43c, revs $1.55B
The Fresh Market(TFM) EPS 35c, revs $310.29M
After:
Lions Gate Entertainment(LGF) EPS 34c, revs $627.90M


Thursday, May 31

US Economics (Time Zone: EDT)

08:15 ADP Employment Change - consensus 140K
08:30 GDP QoQ - consensus 1.9%
08:30 Personal Consumption - consensus 2.9%
08:30 GDP Price Index - consensus 1.5%
08:30 Core PCE QoQ - consensus 2.1%
08:30 Initial Jobless Claims – consensus 370K
08:30 Continuing Claims – consensus 3260K
09:45 Chicago PMI - consensus 57.0
10:00 NAPM-Milwaukee
11:00 Fed to purchase $1.5b-$2b bonds in 25-30 year range

Global Economics (Time Zone: GMT)

01:30 AUD Private Sector Credit
04:00 EUR German Retail Sales
05:00 JPY Annualized Housing Starts
05:45 CHF GDP
07:55 EUR German Unemployment Rate
23:50 JPY Capital Spending

Earnings

Before:
Ciena (CIEN) EPS -3c, revs $447.73M
Phillips 66 (PSX) EPS $1.61, revs $43.25B
After:
Omnivision (OTVI) EPS 22c, revs $205.34M


Friday, June 1

US Economics (Time Zone: EDT)

08:30 Nonfarm Payrolls - consensus 150K
08:30 Private Payrolls - consensus 165K
08:30 Manufacturing Payrolls - consensus 15K
08:30 Unemployment Rate - consensus 8.1%
08:30 Average Hourly Earnings - consensus 0.2%
08:30 Personal Income - consensus 0.3%
08:30 Personal Spending - consensus 0.3%
08:30 PCE Deflator - consensus 1.9%
08:30 PCE Core - consensus 2.0%
10:00 ISM Manufacturing - consensus 53.9
10:00 ISM Prices Paid - consensus 57.0
5:00 Total Vehicles Sales - consensus 14.41M
5:00 Domestic Vehicle Sales - consensus 11.20M

Global Economics (Time Zone: GMT)

01:00 CNY PMI
07:15 CHF Retail Sales
07:55 EUR German PMI
07:55 EUR Eurozone PMI
08:30 GBP PMI

Earnings

No major earnings

Twitter: @MichaelSedacca

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No positions in stocks mentioned.

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