Top Day Market News
6.01.12
Welcome to June.
Bonds are rolling over to September as front month forward.
China’s purchasing manager’s index came in softer than expected. This continued to put pressure on crude. China also continues to depreciate its currency, a positive for their exports, a negative for everyone else.
Non farm payroll is forecasted to have come in at 150K with the unemployment rate at 8.0%. The 2nd look at Q1 GDP at 1.9% suggests a jobs number of 118K. The Institute for Supply Management out at 10 is supposed to be soft and under an expected reading of 53. Germany’s 2 year paper carries a negative yield. In other words, you pay them to hold your money for two years, they don’t pay you.
Monti of Italy and Draghi of the ECB are attempting to move Merkel towards a more immediate response to stabilize the EU. Japan has made some noises about intervention.
Week of May 28 - June 01
| Date | ET | Release | For | Actual | Briefing.com Briefing.com | Prior | Revised | |
| Forecast | Consensus | From | ||||||
| May | 09:00 | Case-Shiller 20-city | Mar | -3.0% | -2.8% | -3.5% | ||
| 29 | Index | |||||||
| Date | ET | Release | For | Actual | Briefing.com Briefing.com | Prior | Revised | |
| Forecast | Consensus | From | ||||||
| May | 10:00 | Consumer Confidence | May | 71.0 | 69.0 | 69.2 | ||
| 29 | ||||||||
| May | 07:00 | MBA Mortgage Index | 05/26 | NA | NA | 3.8% | ||
| 30 | ||||||||
| May | 10:00 | Pending Home Sales | Apr | 2.0% | -1.0% | 4.1% | ||
| 30 | ||||||||
| May | 07:30 | Challenger Job Cuts | May | NA | NA | 11.2% | ||
| 31 | ||||||||
| May | 08:15 | ADP Employment | May | 165K | 145K | 119K | ||
| 31 | Change | |||||||
| May | 08:30 | Initial Claims | 05/26 | 365K | 370K | NA | ||
| 31 | ||||||||
| May | 08:30 | Continuing Claims | 05/19 | 3250K | 3265K | NA | ||
| 31 | ||||||||
| May | 08:30 | GDP - Second | Q1 | 1.9% | 1.9% | 2.2% | ||
| 31 | Estimate | |||||||
| May | 08:30 | GDP Deflator - | Q1 | 1.5% | 1.5% | 1.5% | ||
| 31 | Second Estimate | |||||||
| May | 09:45 | Chicago PMI | May | 55.0 | 57.5 | 56.2 | ||
| 31 | ||||||||
| May | 11:00 | Crude Inventories | 05/26 | NA | NA | 0.883M | ||
| 31 | ||||||||
| Jun | 08:30 | Nonfarm Payrolls | May | 175K | 155K | 115K | ||
| 01 | ||||||||
| Jun | 08:30 | Nonfarm Private | May | 185K | 172K | 130K | ||
| 01 | Payrolls | |||||||
| Jun | 08:30 | Unemployment Rate | May | 8.0% | 8.1% | 8.1% | ||
| 01 | ||||||||
| Jun | 08:30 | Hourly Earnings | May | 0.1% | 0.2% | 0.0% | ||
| 01 | ||||||||
| Jun | 08:30 | Average Workweek | May | 34.5 | 34.5 | 34.5 | ||
| 01 | ||||||||
| Jun | 08:30 | Personal Income | Apr | 0.2% | 0.3% | 0.4% | ||
| 01 | ||||||||
| Jun | 08:30 | Personal Spending | Apr | 0.2% | 0.3% | 0.3% | ||
| 01 | ||||||||
| Jun | 08:30 | PCE Prices - Core | April | 0.2% | 0.2% | 0.2% | ||
| 01 | ||||||||
| Jun | 10:00 | ISM Index | May | 53.0 | 54.0 | 54.8 | ||
| 01 | ||||||||
| Jun | 10:00 | Construction | Apr | 0.0% | 0.5% | 0.1% | ||
| 01 | Spending | |||||||
| Jun | 14:00 | Auto Sales | May | NA | NA | 5.0M | ||
| 01 | ||||||||
| Jun | 14:00 | Truck Sales | May | NA | NA | 6.0 | ||
