Price reports dominate economic statistics this week: The producer price index (final demand) on Wednesday and the consumer price index on Thursday, each at 8:30 a.m. New York time
In Fedworld, Chairman Jerome Powell takes part in a panel discussion at a conference in Zurich sponsored by the Swiss National Bank and the International Monetary Fund, on Tuesday at 3:15 a.m. New York time (9:15 a.m. Zurich time). His topic: Monetary policy influences on global financial conditions and international capital flows. The event will be streamed live here.
Leading indicators (in descending order of importance):
The interest rate spread between 10-year Treasuries and the federal funds rate, reported continually during market hours.
The M2 money supply, at 4:30 p.m. Thursday.
The S&P 500 index, reported continually during market hours.
Average weekly initial claims for unemployment, from the jobless claims report at 8:30 a.m. Thursday.
The index of consumer expectations from the University of Michigan consumer sentiment survey at 10 a.m. Friday.
Events arranged by day:
Tuesday: Fed Chairman Jerome Powell appearance at 3:15 a.m. and the job openings and labor turnover report at 10 a.m.
Wednesday: Producer price index (final demand) at 8:30 a.m. and petroleum inventories at 10:30 a.m.
Thursday: Jobless claims and the consumer price index, each at 8:30 a.m., the Treasury budget at 2 p.m. and the M2 money supply at 4:30 p.m.
Friday: Import and export prices at 8:30 a.m. and consumer sentiment at 10 a.m.
I also keep an eye on the Baltic Dry Index, updated daily, and the 5-year implied inflation rate which is the difference between the yields on 5-year U.S. Treasury notes and 5-year Treasury inflation protected securities (TIPS).
By Tim Bovee, Portland, Oregon, May 5, 2018
Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.
No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.
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