U. of Michigan Sentiment, Leading index and some Fed speak on the calendar today
It is Friday with global flux so flows in play
It is Friday, and with it comes closed markets over the weekend. Add to it, US/China trade concerns, government on verge of major change in the UK with Brexit clock ticking, Iran. Those can add a lot of flow moves as traders square up/hedge positions. So be on your toes.
On the economic calendar, it is fairly light.
- U of Michigan consumer sentiment for May (preliminary) will be released at 10 AM ET/1400 GMT. The expectations are for the index to remain steady at 97.2 with current conditions expected to dip ever so slightly to 112.2 (vs 112.3 last month).
- The Leading index will also be released at the same time with expectations of a 0.2% increase from last months 0.4% rise.
Fed speakers will also be on the docket with:
Baker Hughes rig count will be at 1 PM ET and the weekly CFTC Commitment of Traders numbers (around 3:30 PM ET) will wrap up the day and week.
- Feds Williams scheduled to meet with communiity leader. It seems that he is there to do more listening but we may get some comments from the NY Fed president (voting member). Williams speaks at 11:15 PM ET/1515 GMT
- Feds Clarida is also scheduled to speak. at 1:40 PM ET/1740 GMT. The event is titled "Fed Listens" and will take place in Philadelphia.