Weekly calendar 2/27~3/1/2017
We have very big week for economic data, with all of the big reports except the employment situation.
The “A” List
- ISM index (W). Important for both concurrent and leading qualities. Strength continuing?
- Auto sales (W). More gains from a key sector or “peak auto?”
- Consumer confidence (T). Will the great strength continue?
- Personal income and spending (W). January data, but a very important business cycle series.
- Fed beige book (W). With the Fed resuming a role as a key worry, there will be extra attention.
- Initial jobless claims (Th). How long can the amazing strength continue?
The “B” List
- ISM services index (F). Continuing strength? More important than manufacturing, but harder to interpret.
- GDP Q4 (T). The second estimate includes more data, but little change is expected.
- Durable goods (M). January data in a volatile series, but progress is needed.
- Pending home sales (M). Not as important as new construction, but a good read on the market.
- Chicago PMI (T). Best of the regional surveys is a little preview of the national ISM report the next day.
- Construction spending (W). Big rebound expected in the important but volatile series.
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Crude inventories (Th). Recently showing even more impact on oil prices. Rightly or wrongly, that spills over to stocks.
President Trump’s first Address to Congress on Tuesday night will command attention in many ways. Most importantly for our purposes will be hints about legislative priorities and the Congressional reaction. Insider tip: Watch for things that get applause from both sides of the aisle.
