Saturday, May 23, 2015

Schedule for Week of May 24, 2015

by Bill McBride on 5/23/2015 08:31:00 AM

The key reports this week are April New Home sales on Tuesday, the 2nd estimate of Q1 GDP on Friday, and March Case-Shiller house prices on Tuesday.

For manufacturing, the May Richmond and Dallas Fed surveys will be released this week.

----- Monday, May 25th -----

All US markets will be closed in observance of Memorial Day.

----- Tuesday, May 26th -----

8:30 AM: Durable Goods Orders for April from the Census Bureau. The consensus is for a 0.6% decrease in durable goods orders.

9:00 AM: FHFA House Price Index for March 2015. This was originally a GSE only repeat sales, however there is also an expanded index.

Case-Shiller House Prices Indices9:00 AM: S&P/Case-Shiller House Price Index for March. Although this is the March report, it is really a 3 month average of January, February and March prices.

This graph shows the nominal seasonally adjusted National Index, Composite 10 and Composite 20 indexes through the February 2015 report (the Composite 20 was started in January 2000).

The consensus is for a 4.6% year-over-year increase in the Comp 20 index for March. The Zillow forecast is for the National Index to increase 4.2% year-over-year in March, and for prices to increase 1.0% month-to-month seasonally adjusted.

New Home Sales10:00 AM: New Home Sales for April from the Census Bureau.

This graph shows New Home Sales since 1963. The dashed line is the March sales rate.

The consensus is for an increase in sales to 509 thousand Seasonally Adjusted Annual Rate (SAAR) in April from 481 thousand in March.

10:00 AM: Richmond Fed Survey of Manufacturing Activity for May.

10:30 AM: Dallas Fed Manufacturing Survey for May.

----- Wednesday, May 27th -----

7:00 AM: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

10:00 AM: Regional and State Employment and Unemployment (Monthly), April 2015

----- Thursday, May 28th -----

8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for claims to decrease to 270 thousand from 274 thousand.

10:00 AM: Pending Home Sales Index for April. The consensus is for a 0.8% increase in the index.

----- Friday, May 29th -----

8:30 AM: Gross Domestic Product, 1st quarter 2015 (second estimate). The consensus is that real GDP decreased 0.9% annualized in Q1, revised down from the 0.2% advance estimate.

9:45 AM: Chicago Purchasing Managers Index for May. The consensus is for a reading of 53.0, up from 52.3 in April.

10:00 AM: University of Michigan's Consumer sentiment index (final for May). The consensus is for a reading of 90.0, up from the preliminary reading of 88.6, and down from the April reading of 95.9.