wall street in advance

MAY/June 2017  Economic Statistics
and Other Economic Influences

TUESDAYS:
                Weekly Chain Store Sales*
                 Average Hourly Earnings*
                 API Weekly Gas/Oil Stockpiles Report*  **
(4:30p.m.)
    WEDNESDAYS:
                
Mortgage Applications  Data
                 EIA Weekly Report on Gas & Oil Stockpiles* (10a.m.)
    THURSDAYS:
                 Weekly Unemployment Report*
                  Weekly Mutual Fund Flows*
                   Natural Gas Storage Levels* (a.m.)

 *Except Holidays    ** As of 1/09         All Dates Subject to Change:
Sunday,     May 21     OVERNIGHT into US Mon. a.m. et:
         South Korea April PPI
         Eurogroup FinMins Meet (22nd local time, thru 23rd Brussels)
         Sweden's Riksbank Executive Board Meets
         Norges Bank Gov Olsen speech at anniversary seminar for local trade ass'n
         UK Rightmove May House Prices
         Japan Apr. Merchandise Trade Balance
Monday,    May 22 Chicago Fed May National Activity Index
Fed's Kashkari welcoming remarks at Opportunity & Inclusive Growth Institute Conference (@Fed Reserve Bk of Minneapolis 10am est see link below)
Fed's Harker discusses "The Link Between Physical & Economic Wellbeing" @Jefferson College of Health Professionals Pharmacy Commencement (Philly 10am)
Medicaid Managed Care Congress (Baltimore MD thru 24th)
US Treasury Auctions $39B 3- & $33B6-month Bills
Conference Board's China April Leading Economic Index
Fed's Kashkari Q&A @Opportunity & Inclusive Growth Institute Conf (6:45pm)
    OVERNIGHT into US Tues. a.m. et;
         Fed Gov Brainard keynotes
"Opportunity & Inclusve Growth Institute Conf (7pm Minneapolis) then, at 7:45pm, speech, "The Roles of Opportunity & Inclusion in Strengthening the US Economy" w/Q&A @Fed Reserve Bk of Minneapolis Conference (thru 23rd)
         Russia April Unemployment Rate
         Fed's Evans speaks at the Symposium on OTC Derivatives--58th Shanghai Clearing House Forum on Policy & Practice-Default Management (Shanghai 9:10pm)
         Riksbank Conference on Financial Stability Ingves & Roszbach Press Conferences (Stockholm)
         RBA (Aussie)'s Debelle speaks at BIS Sympsoium (Basel Suisse 2/23 local time)
        BoJ's Kuroda delivers remarks at 2017 BoJ-IMES Conference (Tokyo)
        Japan March All Industry Activity Index  + April Department Store Sales & (Apr F) Machine Tool Orders
        Singapore April CPI
        German 17Q1 GDP, Private Consumption, Capital Investment, Gov't Spending, Domestic Demand, Exports/Imports & IFO May Business Climate/Expectations
        Swiss April Trade Balance
        UK April Public Finances, Central Gov't NCR, Public Sector Net Borrowing, CBI Retail May Reported Sales & Total Distributed Sales
        Swiss April Trade Balance
Tuesday,   May 23 US April New Home Sales
Redbook weekly chain store sales snapshot
Canada March Wholesale Sales
Richmond Fed Manufacturing Index
Brazil April Current Account & Foreign Direct Investment
US Treasury Auctions $20B 52-week Bills (11:30am et)
US Treasury Auctions $26B 2-year Notes (1pm et)
Fed's Kashkari participates in a Conversaton about Building Econonic Well-Being for Native Communities through Homeownership (Minneapolis "Homeownership in Indian Country 3:15pm)
Fed's Harker presents at Harvard Club of NYC with Q&A (5pm NY)
       OVERNIGHT into US Wed. a.m. et:
            New Zealand April Trade Balance
            Japan Reuters May Tankan Index
            Swedish Central Bank publishes Financial Stability Report (Stockholm)
            ECB Minutes of its last MPC Meeting (Taper time?)
            German June GfK Consumer Confidence/Outlook & April Import Price Index
            BoJ's Kuroda speaks in Tokyo + Nikkei May Manufacturing PMI
            Aussie April Skilled Vacancies & Q1 Construction Work Completed
            Swiss Q1 Industrial Orders
            South Africa April CPI
            Markit Eurozone, France, German, May Services & Manufacturing + Composite PMI's
            Italy April Trade Balance
            Swiss Q1 Industry & Construction Output, Industrial Production
Wed.         May 24 FOMC Minutes of May 02--03 Meeting Released (2pm et)
MBA weekly Mortgage/Refinance Applications
FHFA March House Price Index
Full D.C. District Court of Appeals hearings on legality of CFPB
Federal D.C. District Court hearing on legality of SEC's in-house Administrative judges
BoC (Canada) MPC Rate Decision (house prices to the sky, some provinces)
NATO Sec'y Gen press conference ahead of NATO Heads of State meeting
US Markit May Manufacturing, Services & Composite Flash (P) PMI
US April Existing Home Sales
EIA weekly Petroleum/Gasoline/Distillates Stats
(w/e 5/19)
US Treasury Auctions $13B reopened 2-year FRN (11:30am et)
US Treasury Auctions $34B 5-year Notes (1pm et)
France Total Jobseekers
Fed's Kashkari speaks at Town Hall Forum (Ashland WI 6pm)
Fed's Kaplan participates in Q&A at C.D. Howe Institute Annual Directors' Dinner (Toronto  6pm)
    OVERNIGHT into US Thurs. a.m. et:
          BoJ's Sakurai
speech & news conference (Saga Japan)
          Singapore Q1 GDP
          South Korea May Interest Rate Decision
          New Zealand Aug Budget Balance/Economic & Net Debt Forecast
          Pres. Trump & France new PM Emmanuel Macron meet (Brussels @NATO)
          RBA's Bullock speaks (Sydney)
          China April Swift Global Payments
          RBA (Aussie) Dpty Gov Debelle opening remakrs at Launch of the FX Global Code (London)
          Spain Q1 GDP
          Italian Marc Industrial New Orders/Sales
          Canada CFIB May Business Barometer
          UK Q1 GDP, Private Consumption, Gov't Spending, Fixed Capital Formation, Imports/Exports, Imports/Exports, Total Business Investment, March Index of Services, BBA April Loans for House Purchases
          Hong Kong April Trade Balance
          South Africa April PPI
Thursday, May 25 OPEC 172nd (Ordinary) Meeting (Saudis want support to extend production cuts)
US April Int'l Trade Deficit
US April Wholesale & Retail Inventories
US weekly Jobless Claims
BoC Dpty Gov Luduc speaks at Payments Canada (Toronto)
Canada Q1 Corporate Profits
Russia Central Bank Reserves
South Africa May Prime & Interest Rate Decision
NATO Heads of State Meet (Brussels, Belgium thru 26th)
Fed Gov Brainard discusses global eco issues at Center for Global Development's Voices of Experience: A Conversation with former Treasury Undersecretaries for Int'l Affairs w/Q&A (D.C. 10am)
EIA weekly Natural Gas Report
K.C. Fed May Manufacturing Index
US Treasury Refunding Announcement
US Treasury Auctions $28B 7-year Notes
US Weekly Money Supply & Fed Balance Sheet (4:30pm et)
    OVERNIGHT into US Fri. a.m. et:
          G7 Heads of State Meeting Starts
(to 5/27)
          Japan Apr. CPI, Corporate Service Prices
          Singapore Q1 GDP, April Industrial Production
          India Bank Loan & Deposit Growth
          Fed's Bullard on US Economy & Monetary Policy Keio Univ. (Tokyo 10pm)
Friday,       May 26 US April Durable Goods Orders/Shipments
17Q1 US (P) GDP (2nd guess)/Personal Consumption/PCE/Savings 
17Q1 US (P) Corporate Profits
U.M. Final May Consumer Sentiment & Expectations
Baker-Hughes weekly US/North American Rig Count (w/e 5/19)
Brazil April Budget Balance
G7 Heads of State Meeting (Taormini Sicily thru 28th)
Fed's Harker speaks at Pennsylvania Economic Ass'n 2017 Conference on Economic Outlook & Economic Growth & Mobility Project of Philly Fed Bank (12:45pm et)
ECB's Ceure participates in 24th Reunion of the Governors des Banques Centrales des Pays Francophones Organized by the SNB
        
Saturday,  May 27 G7 Heads of State Meeting Ends
German April Retail Sales
Chinese April Industrial Profits
China Dragon Boat Festival
BoJ's Kuroda speaks at 2017 Spring Annual Meeting of the Japan Society of Monetary Economics (Tokyo)
Sunday,      May 28     OVERNIGHT into US Mon. a.m. et:
          Fed's Williams
keynotes at Symposium on Asian Banking & Finance: Risk & Resilience in Global Finance (Singapore w/Q&A 8:15pm)
          UK Nationwide May House Prices
          German April Import Price Index
Monday,     May 29 ECB Chief Draghi speaks @European Parliament (Brussels)
Memorial Day US MARKETS CLOSED
Holidays, also, in China & UK
     OVERNIGHT into US Tues. a.m. et:

          New Zealand April Building Permits
         Japan April Jobless Rate, Household Spending, Retail Trade
         Aussie April Building Approvals
         French Q1 GDP  + BTF Auctions & April Consumer Spending
         South Africa April Private Sector Credit & M3 Money Supply
         Spanish May CPI & HICP
         Italy April Trade Balance + PPI
         Eurozone, French, German May Industrial, Business & Services Sentiment
         German May CPI & HICP
         Austrian Nat'l Bank Gov Nowotny &   ECB's Liikanen speak on panels about Marshall Plan  At Austrian Nat'l Bank Conference: "Is the post-crisis financial systems more resilient? what remains to be done?" (Vienna)
        
Tuesday,   May 30 US April Personal Income/Expenditures/PCE
S&P Case/Shiller March 20-city Home Price Index
Conference Board's May Consumer Confidence
Dallas Fed Manufacturing Survey & April PCE
Canada Q1 Current Account, April Industrial Product & Raw Materials Price Indices
US Treasury Auctions $45B 4-wk, $39B 3- & $33B 6-Month Bills  + $25B 14-day bills (11:30a,m, and that's it for the Week!!!!!!!)
    OVERNIGHT into US Wed. a.m. et:
         Japan April (P) Industrial Production, Vehicle Production, Housing Starts, Construction Orders
         South Korea June Manufacturing BSI Index & April Industrial Production + Service Output
         China May Manufacturing & Non-Manuracturing PMI
         Aussie April Private Sector Credit, Housing Credit
         Singapore April Bank Lending
         Swiss UBS April Consumption Indicator
         German May Unemployment Rate/Change & Import Price Index+Retail Sales
         French April PPI
         Italy April Unemployment Report
         Swiss ZEW May Expectations
         BoE April Consumer Credit & M4 Money Supply  
         UK April Lending on Dwellings, Mortgage Approvals, & GfK May CPI
        Italy May CPI & HICP
        Eurozone April Unemployment Rate, May CPI
        South Africa April Trade balance
        India March Federal Deficit, 16Q4 GDP, & April Infrastructure Output
Wed.,         May 31 Fed's Beige Book (2pm)
MBA weekly Mortgage/Refinance Applications
Fed's Kaplan participates in Q&A @C. Peter McColough Series on Int'l Economics @Council on Foreign Relations  (NY 8am)
Chicago May PMI
Redbook weekly Store Sales Snapshot
NAR April Pending Home Sales
Canada Q1 GDP
Brazil MPC Interest Rate Decision (Current 11.25%)
USDA Farm Prices (3pm)
    OVERNIGHT into US Thurs. a.m. et:
         Fed's Williams
speaks @Bk of Korea Int'l Conference--Global Economic &  Financial Challenges: The Decade Ahead (Seoul w/Q&A 7:30pm)
         New Zealand May QV House Prices, Q1 Terms of Trade
         Reserve Bank of New Zealand financial stability report media conference
         South Korea May CPI, Trade Balance (Imports/Exports) 
         Aussie May AiG Performance of Manufacturing Index, CoreLogic House Px
         Japan Q1 Capital Spending, Company Profits & Sales, May Official Reserves + May Manufacturing PMI
         Aussie Q1 Private Capital Expenditures, April Retail Sales + Commodity Index
         BoJ's Harada speaks (Gifu)
         Caixan China May Manufacturing PMI
         Japan May Vehicle Sales & Nikkei Markit Manufacturing PMI
         Swiss Q1 GDP, April Retail Sales, SVME-May Purchasing Managesrs Index
         Markit Eurozone, French, German, Italian & Spanish May Manufacturing PMI
         Italian Q1 GDP
         Hong Kong April Retail Sales
         South Africa Q1 Unemployment Rate
         Brazil Q1 GDP
         UK Markit May Manufacturing PMI
         EU's Dombrovski speaks at Brussels Economic Forum
         ECB Bank Supervisor Pentti Hakkarainen speaks (Lisbon)
         Swiss Economic Forum Conference (Zurich to June 02)
Thursday, June 01 US May Motor Vehicle Sales
US May Chain Store Sales
South Africa May Total Vehicle Sales
Fed Gov Powell speaks @Economic Club of NY
EU's Moscovici, Italy's Padoan, speak at Brussels Economic Forum (Belgium)
Challenger May Job-cut Report
Canada Markit May Manufacturing PMI
ADP Employment Report
US weekly Jobless Claims
17Q1 Final US Productivity & Costs
US Markit May (F) PMI Manufacturing Index
US May ISM Manufacturing Index/Prices Paid/Employment
Canada May RBC Manufacturing PMI
US April Construction Spending
EIA weekly Natural Gas Report (10:30am et)
EIA weekly Petroleum/Gasonlne/Distillates Report (11am et)
Weekly US Fed Balance Sheet & Money Supply
    OVERNIGHT into US Fri. a.m. et:
         South Korea Q1 GDP
         Japan May Monetary Base
         Aussie HIA April New Home Sales
         UK Markit/CIPS May Construction PMI
         Eurozone April PPI
         Brazil April Industrial Production
        Swedish Nat'l Bk Gov INgvces participates in IADI's research Conference on "Designing an Optimal Deposit Insurance System--Theory & Practice" (Basel)
Friday,       June 02 US May Unemployment Report/Change/Participation
US April Int'l Trade Deficit
Fed's Harker speaks on the eco outlook at Fed Reserve Bk of Philadelphia's Economic Growth & Mobility Project before the Pennsylvania Economic Ass'n Conference (Reading PA) 
Canada Q1 Labor Productivity, April Int'l Merchandise Trade
Singapore May Manufacturing PMI
Baker-Hughes weekly US/North American Rig Count (1pm et)
EU Commission Pres Juncker & Chinese Prime Minster Li Keqiang speak EU-China Business Summit (Brussels)
Saturday, June 03

         WEEKS AHEAD: 
06/06      RBA (Aussie) MPC Meets
                                        06/08      ECB Meets
                                  06/13--14     FOMC Meets
                                         06/14     FOMC statement, updated Forecasts, Yellen Press Conference
                                         06/15     BoE MPC Meets
                                                       SNB MPC Meets
                                        06/16      BoJ MPC Meets

*FOMC 2017 Voting Members:  Five governors on the FOMC are permanent voters: Janet Yellen, Stanley Fischer, Lael Brainard, Jay Powell and Dan Tarullo.vote at every meeting. (Board Governors endure 2 vacancies that Trump hasn't filled).  NY Fed pres.also a permanent FOMC voting member. The rest of the voters, in 2017, are 5 of the 11 regional Fed Pres.:New voters, for 2017: Philly Fed Pres. Patrick Harker, Minneapolis Fed Pres Neel "Too Big to Fail" Kashkari, Dallas Fed's Robert Kaplan, and Chicago Fed Pres Charles Evans.  Evans was last a voter in 2015. The other 3 are voters for the first time. Loretta Mester (Cleveland), Eric Rosengren (Boston), James Bullard (St. Louis) and Esther George (Kansas City) have lost their votes in 2017. In an Oct. speech, Harker said he would have preferred if rates had been raised at the prior FOMC meeting. Kaplan was a 23-yr veteran of Goldman Sachs before winding up at Harvard Business School. Mester & George are hawks that dissented at several 2016 meetings until the 2016 rate hike announced 12/14 but aren't voters in 2017.  Richmond Fed's Jeff Lacker esigned in early April 2017, when it became known he'd leaked sensitive FOMC discussions to Medley Advisors. Richmond is operating with an Interim Pres, Mark L Mullinix, while the search for a new leader continues.
                     

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