On the economic front this Friday on Wall Street…
(Boursier.com) – Wall Street is expected to rise slightly for the hour before trading on Friday, the day after a hearty ‘rally’ led by the Nasdaq. The trend therefore remains positive, after a new series of corporate publications and pending fairly significant statistics across the Atlantic. Note that the American square will be closed on Monday for Memorial Day.
On the economic front this Friday on Wall Street, household income and expenditure for the month of April will be released at 2:30 p.m. (FactSet consensus +0.8% for personal consumption expenditure and +0.6% for personal income , compared to the previous month). The so-called ‘core-PCE’ adjusted price index, closely watched by the Fed, is expected to rise by 0.3% compared to the previous month and by 4.9% over one year.
The balance of international trade in goods for the month of April will be announced at the same time (consensus 118 billion dollars deficit).
Preliminary wholesaler stocks for April will also be revealed at 2:30 p.m. (FactSet consensus +1.1%).
The final US consumer sentiment index for May, as measured by the University of Michigan, will be announced at 4 p.m. (consensus 59.1, in line with the preliminary estimate).
In business news, Pinduo-duo, Canopy Growth and Big Lots, are among the few financial publications of the day. Last night, Costco, Dell Technologies and marvel revealed accounts that exceeded expectations, but gap disappointed by sharply reducing its forecasts.
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