Normally, the two principal price indexes -- producer and consumer -- are released in the same week, with producer prices as the overture and consumer prices as the grand finale.
Not in May. Producer prices will be released Friday this week at 8:30 a.m. Eastern, and consumer prices on Tuesday of next week (May 15). Why the change? Don't know. Don't much care, either, as I don't think the switch will have significant impact.
Two other major reports are due out, both on Thursday at 8:30 a.m.. They are international trade and weekly jobless claims.
Otherwise, it's a fairly slow week for econ. The action will be in earnings announcements.
Other reports of note:
Wednesday: Petroleum inventories at 10:30 a.m.
Thursday: Import and export prices at 8:30 a.m. and the Treasury budget at 2 p.m.
Friday: Consumer sentiment from the University of Michigan at 9:55 a.m.
Federal Reserve Chairman Ben Bernanke addresses a bankers conference on Thursday. My best guess is that it will be technical, boring to the layperson, and fairly free of market impact. But, guesses can be wrong, so it's worth watching.
Other members of the Federal Open Market Committee scheduled to speak are Richmond Fed Pres. Jeffrey Lacker at 6 p.m. Monday and 9:45 a.m. and 9:45 a.m. Tuesday and Cleveland Fed Pres. Sandra Pianalto at 10:45 a.m. on Wednesday.
By my rules, as of Monday I can trade June calendar and vertical spreads, and August single options and straddles. Of course, shares are good at any time.
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