· US Consumer Confidence declined to 64.9 in May vs 69.6 exp and 69.2 prev
· Greece’s New Democracy party placed first in all six opinion polls published in the country (out Sunday). The margin was as much as 5.7 percentage points over Syriza.
· China Leading Index declined to 99.86 in Apr vs 100.52 prev. This is the first drop below 100 since March 2009.
- South Korea Mfg Business Survey declined to 86 in June vs 90 exp
- SNB chairman Jordan says he would contemplate the introduction of capital controls if needed
- Dallas Fed Mfg Activity declined to -5.1 in May vs +3 exp and -3.4 prev
- Japan Jobless rate increased to 4.6% in Apr vs 4.5% exp and prev
- Japan Retail Trade declined to 5.8% YoY in Apr vs 6.0% exp and 10.3% prev
- German CPI declined to 2.1% YoY in May vs 2.2% exp and prev
- Spanish Real Retail Sales dropped -11.3% YoY in Apr vs -3.9% exp
- Italy Business Confidence declined to 86.2 in May vs 88.6 exp and 89.5 prev
- Tues: Japan PMI
- Wed: Swiss KOF LEI, EU Money Supply, UK Money Supply, EU Confidence, US Pending Home Sales, UK Consumer Confidence,
- Thurs: Month End, Swiss GDP, German Retail Sales, German Employment, EU CPI Estimate, US ADP, Jobless Claims, 1Q GDP 2nd Rev, Chicago PMI
- Thurs Continued: Australia PMI, China PMI, HSBC PMI, South Korea PMI
- Fri: EU PMI, Swiss PMI, UK PMI, Italian Unemployment, EU Unemployment, Canadian GDP, US Payrolls, Unemployment Personal Spending, ISM,
The stock market continues to rally despite weak secondary-level macro data. Next resistance level on S&P looks like ~1343 or so. There isn’t much important data tomorrow, so the expectation here is that the grind up continues for another day.