April Economic Breaker Panel: Is the Economy Set to Overheat?
What’s in Today’s Report:
- April Economic Breaker Panel: Is the Economy Set to Overheat?
- EIA Analysis and Oil Update
Futures are moderately higher following a solid start to earnings season (GS/WFC/ABB/TSMC/LVMH all posted good results) and ahead of a lot of economic data later today.
Speaking of today’s data, the key reports to watch today are (in order of importance): Jobless Claims (E: 695K), Empire State Manufacturing Index (E: 17.0), Philadelphia Fed Manufacturing Index (E: 43.0), Retail Sales (E: 5.6%) and Industrial Production (E: 2.8%). As has been the case, markets will want to see solid activity to imply the economic recovery is on-going, but also no hints of building inflation pressures.
There are also several Fed speakers including Bostic (11:30 a.m. ET), Daly (2:00 p.m. ET) and Mester (4:00 p.m. ET). Yesterday Vice Chair Clarida got more forcefully dovish, so we’ll see if that sentiment is echoed by other Fed members today.
Finally, earnings season continues to roll on and we get several notable reports this morning including: BAC ($0.65), C ($2.56), TSM ($0.95), PEP ($1.12), UNH ($4.41), DAL (-$2.94), AA ($0.48), PPG ($3.67).
