A very busy day …
• At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for claims to decrease to 320 thousand from 329 thousand.
• Also at 8:30 AM, Personal Income and Outlays for March. The consensus is for a 0.4% increase in personal income, and for a 0.6% increase in personal spending. And for the Core PCE price index to increase 0.2%.
• Also at 8:30 AM, Speech by Fed Chair Janet Yellen, Community Bank Supervision, At the Independent Community Bankers of America 2014 Washington Policy Summit, Washington, D.C.
• At 9:00 AM, the Markit US PMI Manufacturing Index for April.
• At 10:00 AM, the ISM Manufacturing Index for April. The consensus is for an increase to 54.2 from 53.7 in March. The ISM employment index was at 51.1% in March, and the new orders index was at 55.1%.
• At 10:00 AM, Construction Spending for March. The consensus is for a 0.6% increase in construction spending.