Key economic data as of May 11 2009
Key economic data for the week starting May 11th, 2009. Numbers shown are consensus estimates (market anticipates this value) and prior value.
| Tuesday: | |
 |
8:30 AM Trade Balance Mar -$29.2B -$26.0B
2:00 PM Treasury Budget Apr -$63.0B $159.3B |
| Wednesday: | |
|
8:30 AM Retail Sales Apr -0.1% -1.2%
8:30 AM Retail Sales ex-auto Apr 0.0% -1.0% 10:00 AM Business Inventories Mar -1.1% -1.3% 10:30 AM Crude Inventories 05/08 NA +605K 10:35 AM Crude Inventories 05/08 NA NA |
| Thursday: | |
|
8:30 AM Core PPI Apr 0.1% 0.0%
8:30 AM Initial Claims 05/09 NA 601K 8:30 AM PPI Apr 0.1% -1.2% |
| Friday: | |
|
8:30 AM Core CPI Apr 0.1% 0.2%
8:30 AM CPI Apr 0.0% -0.1% 8:30 AM Empire Manufacturing May -15.00 -14.65 9:00 AM Net Long-Term TIC Flows NA $22.0B 9:15 AM Capacity Utilization Apr 68.9% 69.3% 9:15 AM Industrial Production Apr -0.6% -1.5% 9:55 AM Mich Sentiment-Prel May 65.0 65.1 |
05/12/2009 at 09:48
Updates on Monday
In today’s action, the NASDAQ 100 closed up 0.12% but the S&P 500 tumbled 2.1% and the Dow declined 1.79%.
For the day, 4,917 million shares were traded on the S&P 500. This volume output is 12% below the index’s average daily volume production over the past 3 months.
The financial sector was singled out today as the group that brought the recent rally to (at least a temporary) standstill. The bank shares that had fueled last week’s rally now drag much of the market lower (with the exception of the NASDAQ 100). One reason for the weakness among financials was bank stock offerings. In fact, four of the banks that passed the recent government ’stress test’ (Bank of New York Mellon Corp., U.S. Bancorp, Capital One Financial Corp., and BB&T Corp) announced today they had plans to issue further shares in order to repay government loans. While it is a positive that banks are once again in a position to turn to Wall Street to raise funds by means of stock sales, issuing extra shares leads to dilution and is therefore not always welcomed by investors.