The US Non-Farm Payrolls have surpassed the consensus 13 times in a row and the market will attempt to extend this unprecedented streak a week from today.
In general, the week promises a number of key economic releases that may move the market but the week starts quietly on Monday due to the Memorial Day holiday.
Tuesday, May 30th, will see the release of the Home Price Index for March, the S&P CoreLogic metric, along with the Consumer Confidence Board for May. Thomas Parkin, a non-voter from Richmond, will speak at 1:00 p.m. ET.
It will begin Wednesday, May 31, with MBA application data for May 26, followed by JOLTS job openings for April. The long-awaited Fed Beige Book will be published at 2:00 p.m. Several Fed speakers are scheduled throughout the day, including Susan Collins, Michelle Bowman, Patrick Harker, and Philip Jefferson. This will be the last trading day of the month, so flows could be important.
Thursday, June 1st will be full of data, starting with the May ADP Employment Change, Initial Claims, Continuing Claims, and Q1 Nonfarm Productivity. This will be followed by the US Global S&P manufacturing index for May and the ISM manufacturing and construction spending data for April. Patrick Harker will speak at 1:00 PM.
Friday, June 2nd, will provide key employment data in the BLS Employment Situation report that includes the Nonfarm Payrolls, Unemployment Rate and Average Hourly Earnings. The current consensus for Nonfarm Payrolls is +180K.
Economic calendar for Thursday / Friday