Looking ahead, there are four key government and private sector reports I’ll be keeping an eye on this week, and you should place them on your agenda, as well.
Here they are listed by the day of release:
Tuesday: Construction Spending. The Commerce Department will release its monthly report detailing residential, non-residential and public expenditures on new construction for March. Trends in construction spending can impact the broader markets.
Tuesday: Factory Orders. The Commerce Department will release this monthly report that consists of the durable goods report plus nondurable goods orders for March. The data in this report are predictable with nondurable goods the only new component.
In addition to nondurable goods data, the market also will be keying in on durable goods orders, which can be significant. Durable goods orders account for almost 55% of total orders.
Thursday: Initial Claims for Unemployment. The Labor Department produces this report that details initial jobless applications. The report provides an indicator of the direction of the economy, with increases or decreases in claims that signal slowing or accelerating job growth.
Friday: Unemployment Rate Report. This is the most important report that will be released by the government next week. The Labor Department will announce the official unemployment rate for April. We will see what the numbers mean for business nationwide.