Economic releases return to center stage
David Russell | [email protected]
First-quarter gross domestic product is the big headline today, scheduled for 8:30 a.m. ET. Forecasters expect growth of 2.8 percent, up from 0.4 percent in the last three months of 2012. A lower number would likely be interpreted bearishly.
The University of Michigan issues its consumer-sentiment index at 9:55 a.m. ET. Economists predict a reading of 72.4, up from the 72.3 reported previously. It's the final revision of an earlier report, so is unlikely have a broad impact on sentiment.
Next week brings the Case-Shiller Index of home prices on Tuesday. Things get more active on Wednesday with the Institute of Supply Management's key monthly index, plus ADP's private-sector jobs data and the Federal Reserve's monetary announcement. The calendar then builds to the key non-farm payrolls report Friday morning.