The key report this week is CPI.
Other key reports include April job openings, and the April trade balance.
No major economic releases scheduled.
6:00 AM ET: NFIB Small Business Optimism Index for May.
In March, exports were up 8.1% compared to March 2020; imports were up 18.1% compared to March 2020.
Both imports and exports decreased sharply due to COVID-19, and have now bounced back (imports much more than exports).
The consensus is the trade deficit to be $69.0 billion. The U.S. trade deficit was at $74.4 Billion in March.
This graph shows job openings (yellow line), hires (purple), Layoff, Discharges and other (red column), and Quits (light blue column) from the JOLTS.
Jobs openings increased in March to 8.123 million from 7.526 million in February.
The number of job openings (yellow) were down 41% year-over-year, and Quits were up 21% year-over-year.
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for a decrease to 380 thousand from 385 thousand last week.
8:30 AM: The Consumer Price Index for May from the BLS. The consensus is for 0.4% increase in CPI, and a 0.4% increase in core CPI.
12:00 PM: Q1 Flow of Funds Accounts of the United States from the Federal Reserve.
10:00 AM: University of Michigan’s Consumer sentiment index (Preliminary for June).