by Calculated Risk on 5/02/2021 06:29:00 PM

Weekend:
• Schedule for Week of May 2, 2021

• Q1 2021 GDP Details on Residential and Commercial Real Estate

Monday:
• At 10:00 AM ET, ISM Manufacturing Index for April. The consensus is for the ISM to be at 65.0, up from 64.7 in March.

• Also at 10:00 AM, Construction Spending for March. The consensus is for a 2.0% increase in construction spending.

• All day, Light vehicle sales for April. The expectation is for light vehicle sales to be 17.9 million SAAR in April, unchanged from 17.85 million in March (Seasonally Adjusted Annual Rate).

• At 2:00 PM, Senior Loan Officer Opinion Survey on Bank Lending Practices for April.

• At 2:20 PM, Speech, Fed Chair Jerome Powell, Community Development, At the National Community Reinvestment Coalition’s 2021 Just Economy Conference (via livestream)

From CNBC: Pre-Market Data and Bloomberg futures S&P 500 are up 10, and DOW futures are up 68 (fair value).

Oil prices were up over the last week with WTI futures at $63.56 per barrel and Brent at $66.73 per barrel. A year ago, WTI was at $20, and Brent was at $18 - so WTI oil prices are UP sharply year-over-year (oil prices collapsed at the beginning of the pandemic).

Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $2.89 per gallon. A year ago prices were at $1.75 per gallon, so gasoline prices are up $1.14 per gallon year-over-year.