Memorial Day Hangover

All quiet on the trading front after the Memorial Day weekend hangover

Intro: Investors have another quiet week after the shortened Memorial Day weekend highlighted by Q1 GDP revision. On the economic front, we have a light week highlighted by Chicago PMI, Michigan Sentiment, New Home sales and Consumer Confidence


FOMC Speeches: Multiple FOMC members will be giving speeches around the globe. Investors will be listening to ongoing speeches for hints regarding timing of rate rises and trajectory. Any hints as to timing has the potential to see yields spike higher


GDP: On Friday (5/29) 1Q GDP is released. Should GDP come in lower than expected; besides blaming the harsh winter and west coast port shutdown, investors will look for the central bank to delay raising interest rates. Should GDP show positive growth, expect the central bank to potentially raise rates sooner than later


Consumer Confidence: On Tuesday (5/26), data on Consumer Confidence is released. If readings come in higher than expected, traders will associate it with consumer’s making bigger purchases and improving market conditions  


MONDAY (5/25)

  • US Markets are closed for Memorial Day Holiday
  • European Banks are closed for various holidays
  • FOMC Member Stanley Fischer speaks


TUESDAY (5/26)

  • 8:30 AM ET – Durable Orders – Apr
  • 10:00 AM ET – New Home Sales - Apr
  • 10:00 AM ET – Consumer Confidence
  • New Zealand Trade Balance
  • FOMC Member Stanley Fischer speaks
  • FOMC Member Jeffrey Lacker speaks
  • Earnings: Autozone



  • FOMC Member Jeffrey Lacker speaks
  • G7 Meetings
  • Bank of Canada Rate Statement
  • Earnings: Costco



  • 8:30 AM ET - Weekly Jobless Claims
  • 8:30 AM ET – Pending Home Sales – Apr
  • 10:30 AM ET – Crude Oil Inventories
  • FOMC Member John Williams speaks
  • Great Britain GDP 2nd Estimate
  • G7 Meetings
  • Earnings: Royal Bank of Canada


FRIDAY (5/29)

  • 8:30 AM ET – GDP 2nd Estimate – Q1
  • 9:45 AM ET - Chicago PMI – May
  • 9:55 AM ET - Michigan Sentiment - May
  • ANZ Business Confidence
  • German Retail Sales
  • G7 Meetings
  • Canada GDP