Wednesday, May 30, 2018

Thursday: Unemployment Claims, Personal Income and Outlays, Pending Home sales and more

by Bill McBride on 5/30/2018 07:01:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Slightly Higher After Yesterday's Big Drop

Mortgage rates were somewhat higher today as politicians struck a more conciliatory tone in Italy. To be clear, we are indeed talking about mortgage rates in the United States in relation to European politics. It's not the first time and it likely won't be the last. [30YR FIXED - 4.5-4.625%]
emphasis added
Thursday:
• At 8:30 AM ET, The initial weekly unemployment claims report will be released.  The consensus is for 224 thousand initial claims, down from 234 thousand the previous week.

• At 8:30 AM, Personal Income and Outlays for April. The consensus is for a 0.3% increase in personal income, and for a 0.3% increase in personal spending. And for the Core PCE price index to increase 0.1%.

• At 9:45 AM, Chicago Purchasing Managers Index for May. The consensus is for a reading of 58.1, up from 57.6 in April.

• At 10:00 AM, Pending Home Sales Index for April. The consensus is for a 0.7% increase in the index.