Good Morning Traders!
It is Friday the 12th of May, today we get UMICH data, here are some other things to look out for:
If US price pressures do not ease and the labor market does not slow, the Federal Reserve will likely need to raise interest rates further and keep them there for some time, according to Governor Michelle Bowman.
Biden and House Speaker Kevin McCarthy postponed their scheduled debt ceiling meeting for Friday to allow their aides to continue negotiations in order to avoid a catastrophic US default.
The most pressing question in the squabbling over the federal debt limit in Washington is one that the US Treasury refuses to answer: what happens if it runs out of cash?
Biden's infrastructure czar warns that if the US government defaults or if the debt-limit standoff with Congress results in changes to funding sources, popular projects will be jeopardized.
08:30 AM ET
US Import Prices MoM for April - Median Forecast 0.3% | Prior -0.6% | Range 0.6%/-0.1%
10:00 AM ET
University Michigan Sentiment March Prelim - Median Forecast 63 | Prior 63.5 | Range 65.8/60.8
University Michigan 1 Yr Inflation Prelim - Median Forecast 4.4% | Prior 4.6% | Range 4.6%/4%
University Michigan 5 Yr Inflation Prelim - Median Forecast 2.9% | Prior 3% | Range 3%/2.8%
2:20 PM ET
Fed's Daly Speaks
4:00 PM ET
NZ Finance Minister Robertson Speaks