The Week Ahead
After the long weekend, we enter a busy week of economic data releases. Durable goods data was released earlier this morning coming in well above expectations, jumping .8 percent after analysts forecast a decline of .8 percent. Ex-transportation numbers show durable goods orders with a tenth of a percent rise. This is a leading indicator of positive economic growth.
The S&P Case-Shiller House Price Index came out this morning, measuring the value of residential real estate. March numbers came in higher than expected with a .9 percent gain. April is expected to show the same home price appreciation and sales jump as we enter the summer selling season.
Analyst forecast a decline in consumer confidence for May by .2 percent from April. This proved to be accurate after the report was released today.
Dennis Lockhart, President of the Federal Reserve Bank of Atlanta will also be speaking tonight from LSU.
Other notable releases such as GDP, Jobless Claims, Crude and Natural Gas, as well as Personal Income reports are scheduled for Thursday and Friday.