This week we have several important economic reports being released.  These reports will give us key data on future indicators regarding housing, retail sales, manufacturing, and some insight into the Federal Reserve. 

First up is tomorrow’s Retail Sales data: This will be the first reading of the report for the second quarter 2018.  Current expectations are for April sales to improve by +0.3% as the decline in auto sales is supposed to negatively impact the monthly data. 

Show Slide:

The table shows an upwards trend going into Q2, after a downturn in the first part of 2018.  This insight into the beginning of Q2 will important as we have several big retail companies reporting Q1 earnings results this week. 

We have Macy’s, Nordstrom’s, Wal-Mart, and Home Depot reporting this week.  While the earnings reports will give us the historical data, this week’s retail sales data will give us some insight on how well the sector is doing overall in the beginning of Q2.

Now Home Depot will also be influenced by two other big econ reports this week.  The Housing Market Index-due out Tuesday after the opening bell, and Housing Starts report which will be released before the market opens on Wednesday. 

Housing Market Index also known as the home builder confidence report monitors the general economy and housing market conditions, which are expected to remain elevated. This would be a positive for home building companies like Home Depot, and Lowes.

Housing Starts are expected to tick upwards from 1.31 million to 1.32 million, but building permits are currently pegged to fall by 4,000 to 1.35 million.  But even with the small pullback in permits overall housing starts are expected to remain at very high levels as you can see in this slide.

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