• Schedule for Week of May 16, 2021
• At 8:30 AM ET, The New York Fed Empire State manufacturing survey for May. The consensus is for a reading of 23.9, down from 26.3.
• At 10:00 AM, The May NAHB homebuilder survey. The consensus is for a reading of 83 unchanged from 83 last month . Any number above 50 indicates that more builders view sales conditions as good than poor.
Oil prices were mostly unchanged over the last week with WTI futures at $65.55 per barrel and Brent at $68.88 per barrel. A year ago, WTI was at $29, and Brent was at $31 – so WTI oil prices are UP sharply year-over-year (oil prices collapsed at the beginning of the pandemic).
Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $3.04 per gallon. A year ago prices were at $1.86 per gallon, so gasoline prices are up $1.17 per gallon year-over-year.