Monday: NY Fed Mfg, Homebuilder Survey

Schedule for Week of May 16, 2021

The Long and Winding Road

• At 8:30 AM ET, The New York Fed Empire State manufacturing survey for May. The consensus is for a reading of 23.9, down from 26.3.

• At 10:00 AM, The May NAHB homebuilder survey. The consensus is for a reading of 83 unchanged from 83 last month .  Any number above 50 indicates that more builders view sales conditions as good than poor.

From CNBC: Pre-Market Data and Bloomberg futures S&P 500 are down 10, and DOW futures are down 100 (fair value).

Oil prices were mostly unchanged over the last week with WTI futures at $65.55 per barrel and Brent at $68.88 per barrel. A year ago, WTI was at $29, and Brent was at $31 – so WTI oil prices are UP sharply year-over-year (oil prices collapsed at the beginning of the pandemic).

Here is a graph from for nationwide gasoline prices. Nationally prices are at $3.04 per gallon. A year ago prices were at $1.86 per gallon, so gasoline prices are up $1.17 per gallon year-over-year.