KEY EVENTS TO WATCH FOR:
Monday, April 30, 2018
8:30 AM ET. March Personal Income & Outlays
Personal Income, M/M% (previous +0.4%)
Consumer Spending, M/M% (previous +0.2%)
PCE Price Idx, M/M% (previous +0.2%)
PCE Price Idx, Y/Y% (previous +1.8%)
PCE Core Price Idx, M/M% (previous +0.2%)
PCE Core Price Idx, Y/Y% (previous +1.6%)
9:45 AM ET. April ISM-Chicago Business Survey - Chicago PMI
PMI-Adj (previous 57.4)
10:00 AM ET. March Pending Home Sales Index
Pending Home Sales (previous 107.5)
Pending Home Sales Idx, M/M% (previous +3.1%)
Pending Home Sales Idx , Y/Y% (previous -4.1%)
10:30 AM ET. April Texas Manufacturing Outlook Survey
Business Activity (previous 21.4)
Mfg Production Idx (previous 12.7)
4:00 PM ET. Foreign portfolio holdings of U.S. securities final results
N/A Trump welcomes Nigerian counterpart to the White House
N/A U.S: Arbor Day in Wyoming
N/A U.S: Confederate Memorial Day in Mississippi
Tuesday, May 1, 2018
7:45 AM ET. The Retail Economist/Goldman Sachs Weekly Chain Store Sales Index
Chain Store Sales, W/W% (previous +0.5%)
Chain Store Sales, M/M% (previous +3.7%)
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M% (previous +0.3%)
Ret Sales Mo-to-Date, Y/Y% (previous +2.8%)
Latest Wk, Y/Y% (previous +2.6%)
9:45 AM ET. April US Manufacturing PMI
PMI, Mfg (previous 55.6)
10:00 AM ET. March Construction Spending - Construction Put in Place
New Construction (previous +0.1%)
Residential Construction
10:00 AM ET. April ISM Manufacturing Report on Business
Manufacturing PMI (previous 59.3)
Prices Idx (previous 78.1)
Employment Idx (previous 57.3)
Inventories (previous 55.5)
New Orders Idx (previous 61.90
Production Idx (previous 61.0)
4:00 PM ET. April Domestic Auto Industry Sales
Auto Sales Annualized (previous 17.48M)
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous +1.1M)
Gasoline Stocks, Net Chg (Bbls) (previous -2.7M)
Distillate Stocks, Net Chg (Bbls) (previous -1.9M)
N/A U.S. Federal Open Market Committee meeting
Wednesday, May 2, 2018
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 398.5)
Composite Idx, W/W% (previous -0.2%)
Purchase Idx-SA (previous 262.4)
Purchase Idx-SA, W/W% (previous +0.0%)
Refinance Idx (previous 1145.5)
Refinance Idx, W/W% (previous -0.3%)
8:15 AM ET. April ADP National Employment Report
Private Sector Jobs, Net Chg (previous +241000)
9:45 AM ET. April ISM-NY Report on Business
Business Index (previous 54.0)
10:00 AM ET. March Metropolitan Area Employment & Unemployment
10:00 AM ET. April Online Help Wanted Index
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 429.737M)
Crude Oil Stocks, Net Chg (Bbl) (previous +2.17M)
Gasoline Stocks (Bbl) (previous 236.807M)
Gasoline Stocks, Net Chg (Bbl) (previous +0.84M)
Distillate Stocks (Bbl) (previous 122.729M)
Distillate Stocks, Net Chg (Bbl) (previous -2.611M)
Refinery Usage (previous 90.8%)
Total Prod Supplied (Bbl/day) (previous 19.0M)
Total Prod Supplied, Net Chg (Bbl/day) (previous -2.434M)
11:00 AM ET. April Global Manufacturing PMI
PMI, Mfg (previous 53.4)
2:00 PM ET. U.S. interest rate decision
Federal Funds Rate
Federal Funds Rate Change (Pts)
Fed Funds Rate-Range High (previous 1.75)
Fed Funds Rate-Range Low (previous 1.50)
FOMC Vote For Action (previous 8)
FOMC Vote Against Action (previous 0)
Discount Rate (previous 2.25)
Discount Rate Change (Pts) (previous +0.25)
Discount Rate-Range High
Discount Rate-Range Low
Thursday, May 3, 2018
7:30 AM ET. April Challenger Job-Cut Report
Job Cuts, M/M% (previous +71%)
8:30 AM ET. 1st Quarter Preliminary Productivity & Costs
Non-Farm Productivity, Q/Q% (previous -0.1%)
Unit Labor Costs (previous +2.0%)
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 620.6K)
Soybeans (Metric Tons) (previous 537.8K)
Wheat (Metric Tons) (previous 577.9K)
8:30 AM ET. March U.S. International Trade in Goods & Services
Trade Balance (USD) (previous -57.59B)
Exports (USD) (previous 204.445B)
Exports, M/M% (previous +1.7%)
Imports (USD) (previous 262.04B)
Imports, M/M% (previous +1.7%)
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (previous 209K)
Jobless Claims, Net Chg (previous -24K)
Continuing Claims (previous 1837000)
Continuing Claims, Net Chg (previous -29K)
9:45 AM ET. April US Services PMI
PMI, Services (previous 54.0)
9:45 AM ET. Bloomberg Consumer Comfort Index
10:00 AM ET. March Manufacturers' Shipments, Inventories & Orders (M3)
Total Orders, M/M% (previous +1.2%)
Orders, Ex-Defense, M/M% (previous +0.9%)
Orders, Ex-Transport, M/M% (previous +0.1%)
Durable Goods, M/M% (previous +3.1%)
Durable Goods, M/M% (previous +3.0%)
10:00 AM ET. April ISM Non-Manufacturing Report on Business
Non-Mfg Composite Idx (previous 58.8)
Non-Mfg Business Idx (previous 60.6)
Prices Idx (previous 61.5)
Employment Idx (previous 56.6)
New Orders Idx (previous 59.5)
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 1281B)
Working Gas In Storage, Net Chg (Cbf) (previous -18B)
4:30 PM ET. Federal Discount Window Borrowings
4:30 PM ET. Money Stock Measures
4:30 PM ET. Foreign Central Bank Holdings
Friday, May 4, 2018
8:30 AM ET. April U.S. Employment Report
Non-Farm Payrolls (previous +103K)
Unemployment Rate (previous 4.1%)
Avg Hourly Earnings (USD) (previous 26.82)
Avg Hourly Earnings-Net Chg (USD) (previous +0.08)
Avg Hourly Earnings, M/M% (previous +0.3%)
Avg Hourly Earnings, Y/Y% (previous +2.7%)
Overall Workweek (previous 34.5)
Overall Workweek Net Chg (previous +0)
Government Payrolls (previous +1K)
Private Payroll (previous +102K)
Participation Rate (previous 62.9%)
Non-Farm Payrolls Bench Net Chg
8:30 AM ET. 4th Quarter GDP by State
11:00 AM ET. April Global Services PMI
PMI, Services (previous 53.2)
The STOCK INDEXES http://quotes.ino.com/ex changes/?c=indexes"
The STOCK INDEXES:The June NASDAQ 100 was higher overnight. U.S. stock futures point to a higher open when the day session begins keeping the Dow Jones Industrial Average on track for an April gain with one session left to the month. Traders will be reacting to Sprint Corp. and T-Mobile US Inc.’s planned merger, as well as to economic reports, with releases on inflation and the housing market on tap. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rebound off last Wednesday's low, April's high crossing at 6867.00 is the next upside target. Closes below the 20-day moving average crossing at 6642.66 would temper the friendly outlook. First resistance is April's high crossing at 6867.00. Second resistance is the reaction high crossing at 6951.00. First support is last Wednesday's low crossing at 6429.25. Second support is April's low crossing at 6306.75.
The June S&P 500 was higher overnight as it extends the rally off last Wednesday's low. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 2690.33 would confirm that a short-term low has been posted. If June renews the decline off April's high, the reaction low crossing at 2584.50 is the next downside target. First resistance is April's high crossing at 2718.00. Second resistance isthe reaction high crossing at 2741.00. First support is last Wednesday's low crossing at 2613.00. Second support is April's low crossing at 2554.00.
INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"
INTEREST RATES: June T-bonds were lower overnight as it consolidates some of the rebound off last Wednesday's low. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 144-06 would confirm that a short-term low has been posted. If June resumes the decline off April's high, February's low crossing at 141-14 is the next downside target. First resistance is the 10-day moving average crossing at 143-10. Second resistance is the 20-day moving average crossing at 144-06. First support is last Wednesday's low crossing at 141-17. Second support is February's low crossing at 141-14.
June T-notes were slightly lower overnight. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 120.047 would confirm that a short-term low has been posted. If June extends the decline off April's high, monthly support crossing at 117.180 is the next downside target. First resistance is the 10-day moving average crossing at 119.183. Second resistance is the 20-day moving average crossing at 120.047. First support is last Wednesday's low crossing at 118.310. Second support is monthly support crossing at 117.180.
ENERGY MARKETS http://quotes.ino.com/ex changes/?c=energy"
ENERGY MARKETS: JuneNymex crude oil was lower overnight. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 66.43 are needed to confirm that a short-term top has been posted. If June extends the rally off February's low, the 50% retracement level of the 2014-2016-decline crossing at 72.85 is the next upside target. First resistance is April's high crossing at 69.55. Second resistance is the 50% retracement level of the 2014-2016-decline crossing at 72.85. First support is the 20-day moving average crossing at 66.43. Second support is the 50-day moving average crossing at 64.02.
June heating oil was lower overnight. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, the February-2015-high crossing at 216.33 is the next upside target. Closes below the 20-day moving average crossing at 206.98 would confirm that a short-term top has been posted. First resistance is last Thursday's high crossing at 215.05. Second resistance is the February-2015-high crossing at 216.33. First support is the 10-day moving average crossing at 211.37. Second support is the 20-day moving average crossing at 206.98.
June unleaded gas was lower overnight. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, monthly resistance crossing at 217.77 is the next upside target. Closes below the 20-day moving average crossing at 205.64 would confirm that a short-term top has been posted. First resistance is last Monday's high crossing at 213.87. Second resistance is monthly resistance crossing at 217.77. First support is the 10-day moving average crossing at 209.67. Second support is the 20-day moving average crossing at 205.64.
June Henry natural gas was steady to slightly higher overnight.Stochastics and the RSI have turned neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 2.759 would confirm that a short-term top has been posted. If June extends the rally off April's low, March's high crossing at 2.873 is the next upside target. First resistance is last Thursday's high crossing at 2.844. Second resistance is March's high crossing at 2.873. First support is the reaction low crossing at 2.691. Second support is April's low crossing at 2.660.
CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"
CURRENCIES:The June Dollar was higher overnight as it extends the rally off April's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off April's low, the 50% retracement level of the June-2017/February-2018 decline crossing at 92.25 is the next upside target. Closes below the 20-day moving average crossing at 90.03 would confirm that a short-term top has been posted. First resistance is the 50% retracement level of the June-2017/February-2018-decline crossing at 92.25. Second resistance is the 62% retracement level of the June-2017/February-2018-decline crossing at 93.29. First support is the 10-day moving average crossing at 90.48. Second support is the 50-day moving average crossing at 90.03.
The June Euro was lower overnight as it extends the decline off April's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off April's high, is the 62% retracement level of the November-February-decline crossing at 120.87 is the next downside target. Closes above the 20-day moving average crossing at 123.28 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 122.79. Second resistance is the 50-day moving average crossing at 123.81. First support is the 62% retracement level of the November-February-decline crossing at 120.87. Second support is the 75% retracement level of the November-February-decline crossing at 119.65.
The June British Pound was lower overnight as it extends the decline off April's high.Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the aforementioned decline, January's low crossing at 1.3559 is the next downside target. Closes above the 20-day moving average crossing at 1.4105 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.4019. Second resistance is the 20-day moving average crossing at 1.4105. First support is the overnight low crossing at 1.3742. Second support is January's low crossing at 1.3559.
The June Swiss Franc were slightly lower overnight and tested last-November's low crossing at 1.0130. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off February's high, the December-2016-low crossing at 1.0100 is the next downside target. Closes above the 20-day moving average crossing at 1.0370 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.0262. Second resistance is the 20-day moving average crossing at 1.0370. First support is last Friday's low crossing at 1.0116. Second support is the December-2016-low crossing at 1.0100.
The June Canadian Dollar was lower overnight as it extends the trading range of the past four-days. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off April's high, the reaction low crossing at 77.35 is the next downside target. Closes above the 20-day moving average crossing at 78.69 would confirm that a short-term low has been posted.First resistance is the 20-day moving average crossing at 78.69. Second resistance is April's high crossing at 79.92. First support is the reaction low crossing at 77.35. Second support is March's low crossing at 76.33.
The June Japanese Yen was slightly lower overnight. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off March's high, the 62% retracement level of the November-March-rally crossing at 0.9148 is the next downside target. Closes above the 20-day moving average crossing at 0.9321 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 0.9259. Second resistance is the 20-day moving average crossing at 0.9321. First support is last Friday's low crossing at 0.9156. Second support is the 62% retracement level of the November-March-rally crossing at 0.9148.
PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"
PRECIOUS METALS: June gold was lower overnight as it extends the decline off April's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off April's high, the 50% retracement level of the December-January-rally crossing at 1311.50 is the next downside target. Closes above the 20-day moving average crossing at 1337.30 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1337.30. Second resistance is April's high crossing at 1369.40. First support is the 50% retracement level of the December-January-rally crossing at 1311.50. Second support is the 62% retracement level of the December-January-rally crossing at 1296.30.
May silver was lower overnight as it extends the decline off April's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off April's high, April's low crossing at 16.150 is the next downside target. Closes above the 10-day moving average crossing at 16.746 would confirm that a short-term low has been posted. First resistance is the the 20-day moving average crossing at 16.618. Second resistance is the 10-day moving average crossing at 16.746. First support is the overnight low crossing at 16.325. Second support is April's low crossing at 16.150.
May copper was slightly higher overnight. The mid-range trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off April's high, April's low crossing at 297.00 is the next downside target. Closes above the 10-day moving average crossing at 311.04 would confirm that a short-term top has been posted. First resistance is the 10-day moving average crossing at 311.04. Second resistance is April's high crossing at 319.55. First support is last Friday's low crossing at 302.90. Second support is April's low crossing at 297.00.
GRAINS http://quotes.ino.com/ex changes/?c=grains
July corn was higher overnight as it renewed the rally off March's low. The high-range trade overnight sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off March's low, March's high crossing at 4.02 3/4 is the next upside target. Closes below the 50-day moving average crossing at 3.91 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 4.02. Second resistance is March's high crossing at 4.02 3/4. First support is last Monday's low crossing at 3.85 1/4. Second support is April's low crossing at 3.92.
July wheat gapped up and was higher overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off last Tuesday's low, April's high crossing at 5.10 1/2 is the next upside target. Closes below the 10-day moving average crossing at 4.88 3/4 would temper the near-term friendly outlook. First resistance is April's high crossing at 5.10 1/2. Second resistance is the reaction high crossing at 5.14 3/4. First support is last Tuesday's low crossing at 4.67 3/4. Second support is March's low crossing at 4.59.
July Kansas City Wheat closed up 9 1/2-cents at 5.30 1/2.
July Kansas City wheat closed higher on Friday. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off last week's low, April's high crossing at 5.47 3/4 is the next upside target. Closes below the 10-day moving average crossing at 5.11 1/4 would confirm that a short-term top has been posted. First resistance is April's high crossing at 5.47 3/4. Second resistance is March's high crossing at 5.65. First support is April's low crossing at 4.94 3/4. Second support is March's low crossing at 4.75 1/2.
July Minneapolis wheat was higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 6.16 1/4 would confirm that a short-term low has been posted. If July resumes the decline off April's high, April's low crossing at 5.81 is the next downside target. First resistance is the reaction high crossing at 6.27 1/4. Second resistance is April's high crossing at 6.43 1/2. First support is last Tuesday's low crossing at 5.91 1/4. Second support is April's low crossing at 5.81.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
July soybeans were higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off April's low, April's high crossing at 10.78 is the next upside target. Closes below the 10-day moving average crossing at 10.46 would temper the near-term friendly outlook. First resistance is April's high crossing at 10.78. Second resistance is March's high crossing at 10.90 1/4. First support is last Tuesday's low crossing at 10.27 3/4. Second support is the reaction low crossing at 10.14.
July soybean meal was higher overnight as it renewed this year's rally. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off January's low, weekly resistance crossing at 414.20 is the next upside target. Closes below the 50-day moving average crossing at 381.00 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 403.60. Second resistance is weekly resistance crossing at 414.20. First support is April's low crossing at 367.00. Second support is March's low crossing at 360.90.
July soybean oil was lower overnight as it extends this year's decline.The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off November's high, the January-2016 low crossing at 30.67 is the next downside target. Closes above the 50-day moving average crossing at 31.99 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 31.25. Second resistance is the 20-day moving average crossing at 31.59. First support is the January-2016-low crossing at 30.67. Second support is last Friday's low crossing at 30.55.