U.S. jobless claims and existing home sales top the main economic releases for the day.
At 8:30 a.m. EDT, the U.S. Department of Labor will release initial and continuing jobless claims for the weeks ending April 18 and 11, respectively. Economists expect initial jobless claims to reach 640k compared to the previous week's 610k. Continuing claims are expected to rise to 6120k after reaching a record 6022k the week prior.
At 10 a.m. EDT, the National Association of Realtors will release U.S. existing home sales for March. Economists expect a decline in sales to an annualized 4.65 million versus the previous month's 4.72 million, a 1.5% month-over-month decline compared to the previous 5.1% gain.
At 10:30 a.m. EDT, the Energy Information Administration will release weekly natural gas storage for the week ending April 17. Economists expect a build of 44 Bcf compared to the previous week's 21 Bcf gain.
At 11 a.m. EDT, the Treasury Department will announce major coupon supply. Market watchers are expecting a combined $99 billion in 2-year, 5-year and 7-year maturities to be sold from Monday, and on April 29, the Treasury will make its quarterly refunding announcement. Markets are expecting about $74 billion in 3-year, 10-year and 30-year maturities.
At 11:45 a.m. EDT, Minneapolis Fed President Gary Stern (non-voter) will speak in a panel discussion entitled 'New Policies and/or Policy Enhancements for Assuring Financial Stability' at a conference in Washington, D.C.
At 1 p.m. EDT, the U.S. Treasury will sell $8.0 billion in five-year inflation-protected bonds.
Key earnings to watch from the United States on Thursday include ConocoPhilips ahead of the bell, expected to show earnings per share of $0.42, followed by American Express after the market close at $0.12 per share and Microsoft, expected to announce eps of $0.29 per share. Amazon is expected to report gains of $0.31 per share, but no release time has been supplied.
All times in EDT.
8:30 US Initial Jobless Claims W/E April 18 Exp: 640K Prior: +610K
8:30 US Continuing Claims W/E April 11 Exp: 6120K Prior: +6022K
10:00 US Existing Home Sales March Exp: +4.65M Prior: +4.72M
10:00 US Existing Home Sales (M/M) March Exp: -1.5% Prior: +5.1%
10:30 US EIA Natural Gas Storage Change W/E April 17 Exp: +45 Prior: +21
13:00 US Treasury to Sell $8 Billion in 5-Year TIPS
By Erik Kevin Franco and edited by Stephen Huebl
©CEP News Ltd. 2009