What's on the economic calendar
The first look at Q1 US GDP is due at the bottom of the hour and it's surely to be a great quarter. The consensus is 6.6% annualized but after a strong wholesale inventories report yesterday, I expected to be a touch stronger. Of course, this is the advance report and it will be revised many times. Watch the personal consumption line, which is forecast to rise 10.5%. The market will key off that. For the headline, estimates range from 4.5% to 10.0%.
For jobless claims, the consensus is 540K as the slow recovery continues.
At 1400 GMT, the pending home sales report is due and forecast to show a 4.4% m/m rise.
For more, see the economic calendar.
