INDICATOR: May Employment Report
KEY DATA: Payrolls: +217,000; Private: 216,000; Unemployment Rate: 6.3% (unchanged); Hourly Wages: +0.2%
IN A NUTSHELL: "A better than expected employment report reinforces the belief that the labor market is strengthening and the economy is picking up steam."
KEY DATA: ADP: 179,000; 500-999 employees: -3,000/Trade Deficit: $47.2 billion ($3 billion wider)
IN A NUTSHELL: "May job growth may have been a little less than expected but with imports rising, it looks like the economy is moving forward solidly."
KEY DATA: CoreLogic (monthly): +2.1%; Year-over-Year: +10.5%/ISM (Manufacturing): +0.5 points; Orders: +1.8 points; Employment: -1.9 points
IN A NUTSHELL: "Housing price increases remain pretty solid and with the economy improving, we should see sales continue to rise."
KEY DATA: Durables: +0.8%; Excluding Defense: -0.8%; Business Investment: -1.2%/ Consumer Confidence: up 1.3 points
IN A NUTSHELL: "Confidence is rising and coupled with solid goods orders and growing backlogs, it looks like growth is indeed picking up."
INDICATOR: April New Home Sales
KEY DATA: Sales: up 6.4%; Median Prices (Year-over-Year) down 1.3%
IN A NUTSHELL: "Despite the improvement in the new home market, it cannot be said the housing market is recovering a whole lot from the winter wipeout."
INDICATOR: April Existing Home Sales, Leading Indicators and Weekly Jobless Claims
KEY DATA: Home Sales: +1.3%; Leading Indicators: +0.4%; Claims: 326,000 (up 28,000)
IN A NUTSHELL: "Warmer April weather has not been the tonic that realtors hoped for but it still looks like growth will accelerate going forward."
INDICATOR: April Housing Starts and Permits
KEY DATA: Starts: up 13.2%; 1-Family: up 0.8%; Permits: up 8%; 1-Family: up 0.3%
IN A NUTSHELL: "We have been looking for signs that the winter weather was the cause of the economic discontent and the sharp increase in home construction seems to argue that was the case."
INDICATOR: April Retail Sales and Import Prices
KEY DATA: Sales: +0.1%; Excluding Vehicles: 0.0%/Import Prices: -0.4%; Excluding Fuel: 0.0%; Export Prices: -1.0%; Farm: +1.4%
IN A NUTSHELL: "Consumers paused in April, but with the weather improving and prices under control, that could change very quickly."