Highlights
On a remarkably busy morning for economic indicators at 8:30 am ET, the main event is personal income and spending with its PCE price indexes. Expectations for PCE prices call for monthly increases of 0.5 percent overall and 0.3 percent excluding food & energy. Personal income is expected up 0.4 percent and spending up 0.5 percent on the month, with the latter skewed higher by surging energy prices.
Also due at 8:30 am ET: revised GDP for Q1, weekly jobless claims, durable goods orders, and wholesale/retail inventories. The consensus on GDP calls for a revision to a 2.1 percent growth rate from 2.0 percent previously reported. Durable goods orders are seen up 2.8 percent overall and up 0.4 percent excluding transport, meaning aircraft orders.
Meanwhile, oil prices up again after the US and Iran traded more military strikes and prospects appeared dimmer for a provisional settlement to allow shipping to resume through the Strait of Hormuz.
Definition
Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.
Description
Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.