What’s on the financial calendar for the week of 5/13 – 5/17?

Autumn in Manchester, New Hampshire | mortgage rate news

What’s on this week’s financial calendar?

All eyes are on May 15th’s inflation data release, but there are other announcements, events, and reports that may have an impact on the financial markets this week:

Monday, May 13th

Fed Vice Chair Philip Jefferson and Cleveland Fed President Loretta Mester together on a panel

Tuesday, May 14th

Producer price index – April 2024 & year-over-year
Core PPI – April 2024 & year-over-year
Fed Gov. Lisa Cook speaks
Fed Chair Jerome Powell speaks

Wednesday, May 15th

Consumer price index – April 2024 & year-over-year
Core CPI – April 2024 & year-over-year
U.S. retail sales – April 2024
Retail sales minus autos – April 2024
Empire State manufacturing survey – May 2024
Home builder confidence index – May 2024
Business inventories – March 2024
Minneapolis Fed President Neel Kashkari speaks
Fed Gov. Michelle Bowman speaks

Thursday, May 16th

Initial jobless claims – Week of May 11th
Philadelphia Fed manufacturing survey – May 2024
Housing starts – April 2024
Building permits – April 2024
Import price index – April 2024
Import price index minus fuel – April 2024
Capacity utilization – April 2024
New York Fed President John Williams speaks
Fed Vice Chair for Supervision Michael Barr testifies
Cleveland Fed President Loretta Mester speaks
Atlanta Fed President Raphael Bostic speaks

Friday, May 17th

U.S. leading economic indicators – April 2024
Fed Gov. Christopher Waller speaks

What’s the latest prediction for April’s CPI Data?

A recent article from Forbes detailed the latest expectations for the upcoming inflation data report.

This is actually the first of two CPI releases ahead of the next FOMC meeting in June. However, the May report will come a day before the June interest rate decision day.

The latest forecasts suggest that the April CPI may be 0.4% for headline inflation and 0.3% for core inflation. The actual inflation rate is forecasted to be in the 3.3%-to-3.4% range. That’s still a bit off from the Fed’s target of 2%.

Which housing markets are the hottest in the country?

A report from Realtor.com detailed the housing markets in the U.S. that are seeing homes stay on the market for the shortest amount of time. All of the markets in the top 10 are either in the Northeast or Midwest. Southern and Western metro areas didn’t crack the top markets in April 2024.

The demographic shift in location is a huge change from last year when the Sun Belt was red hot.

The hottest market in the country for April 2024? Manchester, NH was the quickest moving market in the entire U.S. in April 2024. Homes in Manchester had an average median days on market of 14. That beat second place Rochester, NY by two full days.

Oshkosh, WI was the fastest moving market in the Midwest with homes only lasting 27 days on market.

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