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Monday: ISM Mfg, Construction Spending

by Calculated Risk on 5/01/2022 06:40:00 PM

o Schedule for Week of May 1, 2022

o FOMC Preview: 50bp Rate Hike, Announce “commencement of balance sheet runoff”

o Housing: “What Killed the Home ATM in 2006?”

o At 10:00 AM ET, ISM Manufacturing Index for April. The consensus is for the ISM to be at 57.6, up from 57.1 in March.

o Also at 10:00 AM, Construction Spending for March. The consensus is for a 0.7% increase in construction spending.

From CNBC: Pre-Market Data and Bloomberg futures S&P 500 and DOW futures are down slightly (fair value).

Oil prices were up over the last week with WTI futures at $104.58 per barrel and Brent at $106.73 per barrel. A year ago, WTI was at $64 and Brent was at $68 – so WTI oil prices are up over 60% year-over-year.

Here is a graph from for nationwide gasoline prices. Nationally prices are at $4.17 per gallon. A year ago prices were at $2.89 per gallon, so gasoline prices are up $1.28 per gallon year-over-year.

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