Today's economic calendar will be very active as traders and investors focus on weekly jobless figures in the pre-market and a speech by Federal Reserve Chairman Ben Bernanke during market hours beginning at 10 a.m. ET.
Initial jobless claims will be released at 8:30 a.m. ET. The consensus forecast calls for a decline to 379,000 from the previous reading of 383,000 new filings. Estimates range from 365,000 to 385,000 initial weekly claims. Continuing claims are expected rise to 3.25 million from 3.242 million.
The weekly Bloomberg Consumer Comfort Index will come out at 9:45 a.m. ET. The quarterly services survey is scheduled for 10 a.m. ET, followed by the EIA natural-gas inventories at 10:30 a.m. ET.
Consumer credit data for April will be released at 3 p.m. ET. The consensus expectation is a print of $12 billion, down from the previous reading of $21.4 billion. Estimates range from $7.5 billion to $18.9 billion.
In addition to Bernanke's 10 a.m. ET appearance, the following Fed officials are scheduled to speak throughout the day:
- Atlanta Federal Reserve Bank President Dennis Lockhart at 11 a.m. ET.
- Minneapolis Federal Bank President Narayana Kocherlakota at 1:15 p.m. ET.
- Dallas Federal Reserve Bank President Richard Fisher at 3:30 p.m. ET.
More From optionMONSTER