Sunday, May 15, 2016

Monday: Empire State Mfg, Homebuilder Survey

by Bill McBride on 5/15/2016 07:13:00 PM

Weekend:
Schedule for Week of May 15, 2016

Monday:
• At 8:30 AM ET, the New York Fed Empire State manufacturing survey for May. The consensus is for a reading of 7.0, down from 9.5.

• At 10:00 AM, the May NAHB homebuilder survey. The consensus is for a reading of  59, up from 58 in April.  Any number above 50 indicates that more builders view sales conditions as good than poor.

From CNBC: Pre-Market Data and Bloomberg futures: S&P are down 4 and DOW futures are down 30 (fair value).

Oil prices were up over the last week with WTI futures at $46.21 per barrel and Brent at $47.83 per barrel.  A year ago, WTI was at $59, and Brent was at $66 - so prices are down about 25% year-over-year.

Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $2.23 per gallon (down about $0.45 per gallon from a year ago).