Economic Events on May 16, 2012

The Mortgage Bankers’ Association purchase index will be released at 7:00 AM Eastern time, providing an update on the quantity of new mortgages and refinancings closed in the last week.

At 8:30 AM Eastern time, the Housing Starts report for April will be released.  The consensus is that construction on 690,000 new homes were started last month, which would be an increase of 36,000 from the previous month.

At 9:15 AM Eastern time, the Industrial Production report for April will be released. The consensus is that there will be an increase 0f 0.5% in production and an increase 0f 0.4% in industrial capacity utilization.

At 10:30 AM Eastern time, the weekly Energy Information Administration Petroleum Status Report will be released, giving investors an update on oil inventories in the United States.

At 2:00 PM Eastern time, the FOMC Meeting Minutes will be released, which will provide insight into how the Federal Reserve board governors and bank presidents view the economy.

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