Saturday, May 06, 2017

Schedule for Week of May 7, 2017

by Bill McBride on 5/06/2017 08:11:00 AM

The key economic reports this week are Retail Sales and the Consumer Price Index (CPI).

----- Monday, May 8th -----

10:00 AM ET: The Fed will release the monthly Labor Market Conditions Index (LMCI).

----- Tuesday, May 9th -----

6:00 AM ET: NFIB Small Business Optimism Index for April.

Job Openings and Labor Turnover Survey10:00 AM: Job Openings and Labor Turnover Survey for March from the BLS.

This graph shows job openings (yellow line), hires (purple), Layoff, Discharges and other (red column), and Quits (light blue column) from the JOLTS.

Jobs openings increased in February to 5.743 million from 5.625 million in January.

The number of job openings (yellow) were up 3% year-over-year, and Quits were up 3% year-over-year.

----- Wednesday, May 10th -----

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

----- Thursday, May 11th -----

8:30 AM ET: The initial weekly unemployment claims report will be released. The consensus is for 244 thousand initial claims, up from 238 thousand the previous week.

8:30 AM: The Producer Price Index for April from the BLS. The consensus is for 0.2% increase in PPI, and a 0.2% increase in core PPI.

----- Friday, May 12th -----

Retail Sales8:30 AM ET: Retail sales for April will be released.  The consensus is for a 0.6% increase in retail sales.

This graph shows retail sales since 1992 through March 2017.

8:30 AM: The Consumer Price Index for April from the BLS. The consensus is for a 0.2% increase in CPI, and a 0.2% increase in core CPI.

10:00 AM: University of Michigan's Consumer sentiment index (preliminary for May). The consensus is for a reading of 97.3, up from 97.0 in April.

10:00 AM: Manufacturing and Trade: Inventories and Sales (business inventories) report for March.  The consensus is for a 0.1% increase in inventories.