Economic Events on May 6, 2010

The monthly Chain Store Sales report will be released today.  This report on sales in chain stores gives a look at the health of stores that make up about 10% of all retail sales.

The Monster Employment Index for April was released today, and the index moved up 8 points to a value of 133, which was the biggest jump in the last 3 years, and is yet another sign that the job market is improving.

At 8:30 AM EDT, the U.S. government will release its weekly Jobless Claims report.  The consensus is that there were 445,000 new jobless claims last week, which would be slightly less than the number reported last week, and would continue the trend of slightly improving employment statistics.

Also at 8:30 AM EDT, the Productivity and Costs report for the first quarter of 2010 will be released.  The consensus is that non-farm productivity increased 2.6% in the last quarter, after an increase of 6.9% in the last quarter of 2009, and labor unit costs declined 1.0%, following a decrease of 5.9% in the previous quarter.

At 9:00 AM EDT, Treasury Secretary Timothy Geithner will testify before the Financial Crisis Inquiry Commission on the shadow banking system.

At 9:30 AM EDT, Federal Reserve Chairman Ben Bernanke will speak to the Chicago Federal Reserve Bank 46th Annual Conference on Bank Structure.

At 10:00 AM EDT, the weekly Energy Information Administration Natural Gas Report will be released, giving an update on natural gas inventories in the United States.

At 4:30 PM EDT, the Federal Reserve will release its Money Supply report, showing the amount of liquidity available in the U.S. economy.

Also at 4:30 PM EDT, the Federal Reserve will release its Balance Sheet report, showing the amount of liquidity the Fed has injected into the economy by adding or removing reserves.

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