On the economic front this Friday on Wall Street, household income and expenditure for the month of April will be released at 2:30 p.m. (FactSet consensus +0.8% for personal consumption expenditure and +0.6% for personal income, compared to the previous month). The so-called 'core-PCE' adjusted price index, closely watched by the Fed, is expected to rise by 0.3% compared to the previous month and by 4.9% over one year.
The balance of international trade in goods for the month of April will be announced at the same time (consensus 118 billion dollars deficit).
Preliminary wholesaler stocks for April will also be revealed at 2:30 p.m. (FactSet consensus +1.1%).
The final US consumer sentiment index for May, as measured by the University of Michigan, will be announced at 4 p.m. (consensus 59.1, in line with the preliminary estimate).
Incorporate news, Pinduoduo, Canopy Growth, and Big Lots are among the few financial releases of the day. Last night, Costco, Dell Technologies, and Marvell unveiled figures above expectations, but Gap was disappointed by sharply reducing its forecasts.