What to watch for
Monday:
- US markets closed for Memorial Day, no data
Tuesday:
- Case-Shiller 20-city house price index
- Conference Board consumer confidence
Wednesday:
- Richmond Fed
Thursday:
- Second reading on Q1 GDP
- Advance goods trade balance
- Pending home sales
- Fed’s Clarida at Economic Club of New York
Friday:
- PCE report
- Chicago PMI
- U Mich final consumer sentiment
- Fed’s Bostic and Williams
- Friday is the final day of May
The market is suddenly sensitive to economic data and fears that the US economy is decelerating with more in the pipeline because of the trade war. Misses to the downside will be punished.