by Calculated Risk on 5/03/2025 08:11:00 AM
The key report scheduled for this week is the March trade balance.
The FOMC meets this week and no change to the Fed funds rate is expected.
—– Monday, May 5th —–
10:00 AM: the ISM Services Index for April. The consensus is for a reading of 50.6, down from 50.8.
—– Tuesday, May 6th —–
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 $129.0 billion. The U.S. trade deficit was at $122.7 billion in February as importers rushed to beat the tariffs.
—– Wednesday, May 7th —–
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
2:00 PM: FOMC Meeting Announcement. No change to to the Fed funds rate is expected at this meeting.
2:30 PM: Fed Chair Jerome Powell holds a press briefing following the FOMC announcement.
—– Thursday, May 8th —–
8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for initial claims of 223 thousand, down from 241 thousand last week.
—– Friday, May 9th —–
No major economic releases scheduled.
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