The key report scheduled for this week is the April employment report. The report will show stunning job losses and a dramatic increase in the unemployment rate.
No major economic releases scheduled.
8:30 AM: Trade Balance report for March from the Census Bureau.
This graph shows the U.S. trade deficit, with and without petroleum, through the most recent report. The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.
The consensus is the trade deficit to be $44.2 billion. The U.S. trade deficit was at $39.9 Billion in February.
10:00 AM: the ISM non-Manufacturing Index for April. The consensus is for a reading of 44.0, down from 52.5.
10:00 AM: Corelogic House Price index for March.
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
8:15 AM: The ADP Employment Report for April. This report is for private payrolls only (no government). The consensus is for 20,000,000 payroll jobs lost in April, down from 27,000 lost in March.
8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for a 3.300 million initial claims, down from 3.839 million the previous week.
3:00 PM: Consumer Credit from the Federal Reserve.
8:30 AM: Employment Report for April. The consensus is for 21,000,000 jobs lost, and for the unemployment rate to increase to 16.0%.
There were 701,000 jobs lost in March, and the unemployment rate was at 4.4%.
This graph shows the year-over-year change in total non-farm employment since 1968.
In March the year-over-year change was 1.504 million jobs.