On the economic calendar this week, we’ll get some new readings that will give a better sense of U.S. economic conditions in March and April. The consensus forecasts are that U.S. retail sales and industrial production declined 10% and 3.3% last month, while the Conference Board’s index of leading economic indicators is expected to decline 7.1% in March.
Looking at regional manufacturing reports for April, the Empire State and Philadelphia Fed Indexes are expected to drop to -32.0 and -25.0, respectively. The key initial unemployment claims report is expected to show another 5-6 million new claims for the week ending April 11th. Other important economic developments this week include the International Monetary Fund’s new world economic outlook report, new Chinese data on trade, industrial production, retail sales, and GDP, and first quarter corporate reports including some of the major financial institutions. Have a great week and please stay safe.