Saturday, May 19, 2018

Schedule for Week of May 20, 2018

by Bill McBride on 5/19/2018 08:12:00 AM

The key economic reports this week are April New and Existing home sales.

----- Monday, May 21st -----

8:30 AM ET: Chicago Fed National Activity Index for April. This is a composite index of other data.

----- Tuesday, May 22nd -----

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

----- Wednesday, May 23rd -----

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

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 677 thousand SAAR, down from 694 thousand in March.

During the day: The AIA's Architecture Billings Index for April (a leading indicator for commercial real estate).

2:00 PM: FOMC Minutes for the Meeting of May 1-2, 2018

----- Thursday, May 24th -----

8:30 AM ET: The initial weekly unemployment claims report will be released.  The consensus is for 220 thousand initial claims, down from 222 thousand the previous week.

9:00 AM: FHFA House Price Index for March 2018. This was originally a GSE only repeat sales, however there is also an expanded index.

Existing Home Sales10:00 AM: Existing Home Sales for April from the National Association of Realtors (NAR). The consensus is for 5.60 million SAAR, unchanged from 5.60 million in March.

The graph shows existing home sales from 1994 through the report last month.

Housing economist Tom Lawler estimates the NAR will reports sales of 5.48 million SAAR for April.

11:00 AM: the Kansas City Fed manufacturing survey for May.

----- Friday, May 25th -----

8:30 AM: Durable Goods Orders for April from the Census Bureau. The consensus is for a 1.3% decrease in durable goods orders.

9:20 AM: Panel Discussion, Fed Chair Jerome Powell, Financial Stability and Central Bank Transparency, At the Sveriges Riksbank Conference: 350 Years of Central Banking--The Past, The Present and The Future, Stockholm, Sweden

10:00 AM: University of Michigan's Consumer sentiment index (Final for May). The consensus is for a reading of 99.0, up from 98.8.