Traders and analysts will face a busy economic calendar on Friday, May 29, 2026, with a number of scheduled data releases and Federal Reserve officials' public remarks that could shape short-term market behavior. Central to the day's lineup are the goods trade balance report and the Chicago Purchasing Managers' Index, both of which provide insight into trade flows and regional manufacturing conditions. The day is also notable for several Fed speakers and the publication of Baker Hughes rig count figures for the oil drilling industry.
What to expect
The goods trade balance measures the difference between imported and exported goods during the relevant month, while the Chicago PMI is a regional gauge of manufacturing activity for the Chicago area. Readings and timing to watch are made more significant by scheduled public appearances from multiple Federal Reserve officials, whose comments can offer market participants additional context on monetary policy thinking. The Baker Hughes rig count will provide an update on drilling activity that some market participants use as an indicator of oil industry dynamics.
Major economic events
No events on the day are classified as 3-star in the schedule provided.
Other important economic events and schedule (all times ET)
- 1:00 AM - FOMC Member Kashkari Speaks - Federal Reserve Bank of Minneapolis President Neel Kashkari is scheduled to speak. Public engagements by Mr. Kashkari are noted as often providing subtle clues regarding future monetary policy.
- 5:50 AM - Fed Schmid Speaks - Federal Reserve Bank of Kansas City President Jeff Schmid will speak; his remarks can offer clues on the FOMC's economic assessment and policy outlook.
- 7:30 AM - Retail Inventories Ex Auto (Previous: 0.4%) - This release measures the change in retail inventories excluding automobiles.
- 7:30 AM - Goods Trade Balance (Forecast: -86.70B, Previous: -87.45B) - The goods trade balance reports the difference in value between imported and exported goods during the reported month.
- 7:30 AM - Wholesale Inventories (Forecast: 0.6%, Previous: 1.3%) - This data measures the change in the total value of goods held in inventory by wholesalers.
- 8:10 AM - FOMC Member Bowman Speaks - Board of Governors member Michelle W. Bowman is scheduled to speak; public engagements by Ms. Bowman are noted as often providing subtle clues regarding future monetary policy.
- 8:45 AM - Chicago PMI (Forecast: 50.6, Previous: 49.2) - The Chicago Purchasing Managers' Index determines the economic health of the manufacturing sector in the Chicago region, with readings above 50 indicating expansion.
- 11:40 AM - FOMC Member Daly Speaks - Federal Reserve Bank of San Francisco President Mary Daly will speak. Her engagements are noted as often conveying subtle policy-related signals.
- 12:00 PM - Baker Hughes U.S. Rig Count (Previous: 425) - This release is described as an important business barometer for the oil drilling industry and a leading indicator of demand for oil products.
- 12:00 PM - U.S. Baker Hughes Total Rig Count (Previous: 558) - Tracks the total number of active drilling rigs in the United States.
- 2:30 PM - CFTC S&P 500 Speculative Positions (Previous: -140.6K) - Provides a breakdown of net positions for speculative traders in S&P 500 futures markets.
- 2:30 PM - CFTC Nasdaq 100 Speculative Positions (Previous: -1.4K) - Tracks speculative trader positions in Nasdaq 100 futures markets.
- 2:30 PM - CFTC Gold Speculative Positions (Previous: 159.8K) - Breakdown of net positions for speculative traders in gold futures markets.
- 2:30 PM - CFTC Crude Oil Speculative Positions (Previous: 172.6K) - Tracks speculative trader positions in crude oil futures markets.
- 2:30 PM - CFTC Soybeans Speculative Positions (Previous: 212.2K) - Tracks speculative trader positions in soybean futures markets.
- 2:30 PM - CFTC Corn Speculative Positions (Previous: 358.1K) - Breakdown of net positions for speculative traders in corn futures markets.
- 2:30 PM - CFTC Wheat Speculative Positions (Previous: 0.3K) - Tracks speculative trader positions in wheat futures markets.
- 2:30 PM - CFTC Natural Gas Speculative Positions (Previous: -192.2K) - Provides a breakdown of net positions for speculative traders in natural gas futures markets.
- 2:30 PM - CFTC Silver Speculative Positions (Previous: 24.7K) - Tracks speculative trader positions in silver futures markets.
- 2:30 PM - CFTC Copper Speculative Positions (Previous: 75.9K) - Breakdown of net positions for speculative traders in copper futures markets.
- 2:30 PM - CFTC Aluminium Speculative Net Positions (Previous: 0.5K) - Tracks speculative trader positions in aluminum futures markets.
Context on scheduled items
The goods trade balance provides a direct accounting of the difference between goods imported into and exported from the economy for the reported month. The Chicago PMI is a regional index where a reading above 50 indicates expansion in manufacturing activity and a reading below 50 indicates contraction; the forecast and previous reading provided in the schedule identify the market's current expectations and the most recent observation.
The day is further characterized by several Federal Reserve officials giving public remarks at different times. The schedule notes that public engagements by Neel Kashkari, Michelle Bowman and Mary Daly often reveal subtle clues regarding future monetary policy, while Jeff Schmid's comments can similarly shed light on the FOMC's economic assessment and policy outlook. Market participants frequently monitor such speeches for tone and indications of central bank thinking.
Finally, the Baker Hughes rig count is listed as a timely industry measure used by some observers to gauge activity levels in oil drilling and to infer trends in demand for oil products. The schedule provides prior counts for both the U.S. rig count and the total U.S. Baker Hughes rig count.
Where to track updates
Participants seeking real-time releases and revisions are directed to consult the published Economic Calendar for the latest timing and data updates.