Tuesday's Market Minute: Lots To Watch During Short Trading Week

Another busy week ahead for investors and traders alike as we head into the last trading week of the month of May. Keep an eye on economic data this week and the rally we’ve seen in the U.S. indices. It’s not just American equities – global indices have been bid off March 2020 pandemic spike lows as governments lift restrictions and businesses begin to reopen. S&P 500 futures just took out the 200-day moving average, a level it hasn’t been above since the first week in March. This week we have New Home Sales and other housing data, Beige Book, GDP, Jobless Claims, and Personal income & Outlays data to keep an eye on. The focus will be on crude oil, which continues to show signs that production cuts support prices. Keep an eye on the U.S. Dollar inching back down to the 99 handle, as this not only supports crude prices but is also a sign of investor concerns easing because the greenback is often seen as a safe-haven currency. The last piece of the puzzle to come together to show economic conditions are improving will be rates. Watch out for the TNX, as ten-year yields remain below 1%. We’ll cover all the breaking news and markets reaction to on the TD Ameritrade Network – check it out!