Home sales, consumer report in focus

Evan McDaniel (evan.mcdaniel@optionmonster.com)

Today's economic calendar is busy, with traders focusing primarily on home sales and consumer-confidence data.

The day starts with the ICSC/Goldman same-store store sales at 7:45 a.m. ET, followed by Redbook retail figures at 8:55 a.m. ET.
 
Investors and traders will primarily focus on the 10 a.m. ET figures of March new home sales and consumer confidence for April at 10:00 a.m. ET.
 
The Case-Shiller housing price index price will be released at 9 a.m. ET. The consensus forecast calls for a monthly change of 0.1 percent within a range of -0.3 percent to 0.2 percent. The year-over-year reading is expected to come in at -3.3 percent, an improvement over the previous -3.8 percent and within a range of -3.7 percent to -3.1 percent.
 
New home sales for March are scheduled for release at 10 a.m. ET. Analysts are looking for a slight rise of 318,000, up from the previous reading of 313,000. Estimates range from 305,000 to 355,000.

Also coming out at 10 a.m. ET will be the April consumer confidence reading, which is estimated by most economists at 69.7, a decline from the last report of 70.2. Estimates range from 66.9 to 72.5.
 
A third report at 10 a.m. ET is the FHFA housing index single-family home data, expected to show a monthly change of 0.1 percent. The range is -0.1 percent to 0.3 percent.
 
The Richmond manufacturing index for April will also be released at 10 a.m. ET. The consensus expectation is a rise to 8 from the previous month's reading of 7. Estimates range from 4 to 10.
 
The final 10 a.m. ET report is the monthly State Street Investor Confidence Index, which measures actual levels of risk within investors' portfolios.
 
Closing the day will be a four-week Treasury bill auction at 11:30 a.m. ET and a two-year note auction 1 p.m. ET.

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