The preliminary index of the University of Michigan, which measures the morale of American households, is the main economic meeting of the day. In terms of values, Michelin brings together its shareholders.
Towards a deterioration in American consumer confidence | Photo credits: Ludovic Bertron / Creative Commons
It is a trading session during which the most superstitious investors will avoid taking positions (it is Friday May 13). The fact remains that they will closely follow the day’s economic data, even if the main events of the week, namely the evolution of consumer and producer prices in April in the United States , are behind us. Among the statistics on the agenda, we will follow the march industrial production in the euro zone (consensus: – 2% over one month), the april u.s. foreign trade price index and especially, the University of Michigan’s preliminary index measuring US consumer confidence in May.
” In recent months, the index of I’University of Michigan been strongly correlated to the evolution of prices, and more particularly those of basic products. Gasoline prices are down from their peak in mid-March, but in modest proportions “, reminded the firm Oddo BHF at the beginning of the week. Will this allow the index to recover? Nothing is less sure. Economists forming the Bloomberg Consensus expect the indicator to contract from 65.2 in April to 64 in May.
On the values front, Bastide Medical Comfort will publish its third quarter sales, Orpea that of the first. For its part, the tire manufacturer Michelin will hold its general meeting of shareholders near Clermont-Ferrand.
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