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Saturday, August 06, 2011

Schedule for Week of August 7th

by Calculated Risk on 8/06/2011 05:15:00 PM

Earlier: A long Summary for Week ending August 5th

The key reports this week are July Retail Sales on Friday, and the June Trade Balance report on Thursday.

The FOMC statement on Tuesday will be closely scrutinized for possible hints of QE3.

----- Monday, Aug 8th -----

10:00 AM ET: NY Fed Q2 Report on Household Debt and Credit (note: moved to Aug 15th)

----- Tuesday, Aug 9th -----

Small Business Optimism Index7:30 AM: NFIB Small Business Optimism Index for July.

Click on graph for larger image in graph gallery.

This graph shows the small business optimism index since 1986. The index decreased to 90.8 in June from 90.9 in May.

This index is still very low - and had been trending up - but optimism has declined for four consecutive months now, and July will probably make five.

2:15 PM: FOMC Meeting Announcement. There will no press briefing after this meeting (the next press conference is scheduled for Nov 2nd). Although no change is expected to interest rates, the FOMC statement will probably be changed to reflect the recent weakness in the economy.

----- Wednesday, Aug 10th -----

7:00 AM: The Mortgage Bankers Association (MBA) will release the mortgage purchase applications index. This index has been very weak over the last several months.

9:00 AM: Ceridian-UCLA Pulse of Commerce Index™ This is the diesel fuel index for July (a measure of transportation).

10:00 AM: Monthly Wholesale Trade: Sales and Inventories for June. The consensus is for a 1.0% increase.

10:00 AM: Job Openings and Labor Turnover Survey for June from the BLS. In general job openings have been trending up, however overall labor turnover remains low.

----- Thursday, Aug 11th -----

8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for an increase to 405,000 from 400,000 last week.

U.S. Trade Exports Imports8:30 AM: Trade Balance report for June from the Census Bureau.

This graph shows the monthly U.S. exports and imports in dollars through May 2011.

The consensus is for the U.S. trade deficit to be around $48 billion, down from $50.2 billion in May.

----- Friday, Aug 12th -----

Retail Sales8:30 AM: Retail Sales for July.

This graph shows retail sales since 1992. This is monthly retail sales, seasonally adjusted (total and ex-gasoline). Retail sales growth has stalled recently.

The consensus is for retail sales to increase 0.6% in July, and for a 0.3% increase ex-auto.

9:55 AM: Reuters/University of Mich Consumer Sentiment preliminary for August. The consensus is for a slight decrease to 63.0 from 63.7 in July.

10:00 AM: Manufacturing and Trade: Inventories and Sales for June. The consensus is for a 0.6% increase in inventories.