Markets enter Tuesday, May 5, 2026, with a concentration of economic reports capable of shaping short-term market direction and providing a cross-section of activity across the housing, services and labor markets. The morning schedule begins with building permits before a string of service-sector and labor measures arrive later in the session, and housing sales complete the primary data set for the day.
Below is a timed outline of the major releases, followed by other important items to watch throughout the trading day.
Major economic events to watch
- 7:00 AM ET - Building Permits (Previous: 1.372M) - This report measures the change in the number of new building permits issued by the government and serves as a leading indicator of housing market demand.
- 8:45 AM ET - Services PMI (Forecast: 51.3, Previous: 51.3) - A survey of more than 400 private-sector service company executives covering transport, communication, financial services and other service industries. Readings above 50 indicate expansion.
- 9:00 AM ET - ISM Non-Manufacturing PMI (Forecast: 53.8, Previous: 54.0) - A composite index that gauges the overall condition of the non-manufacturing sector using business activity, new orders, employment and supplier deliveries.
- 9:00 AM ET - JOLTs Job Openings (Forecast: 6.870M, Previous: 6.882M) - The Job Openings and Labor Turnover Survey measures the number of vacancies reported by employers, providing a snapshot of labor-market demand and tightness.
- 9:00 AM ET - New Home Sales (Forecast: 1K, Previous: 587K) - Tracks the annualized number of new single-family homes sold during the prior month and offers a contemporaneous look at housing market activity.
Other important economic releases and scheduled events
- 7:00 AM ET - Building Permits (percent change) (Previous: -10.8%) - The percent change in permits can signal near-term activity in construction, financing and employment related to the sector.
- 7:30 AM ET - Trade Balance (Forecast: -59.00B, Previous: -57.30B) - The headline trade balance measures the difference in value between exports and imports of goods and services.
- 7:30 AM ET - Exports (Previous: 314.80B) - The total value of merchandise exports reported in US dollars.
- 7:30 AM ET - Imports (Previous: 372.10B) - The total value of goods and services brought into the country for trade purposes.
- 8:45 AM ET - S&P Global Composite PMI (Forecast: 52.0, Previous: 52.0) - An early private-sector indicator that combines manufacturing and services data.
- 9:00 AM ET - New Home Sales (percent change) (Previous: -17.6%) - The percentage change in new home sales indicates recent strength or weakness in housing purchases.
- 9:00 AM ET - ISM Non-Manufacturing Employment (Previous: 45.2) - A component of the ISM services report that measures employment conditions in the non-manufacturing sector; readings above 50 indicate expansion.
- 10:30 AM ET - Atlanta Fed GDPNow (Forecast: 3.5%, Previous: 3.5%) - A running estimate of real GDP growth for the current quarter based on available economic data.
- 11:30 AM ET - FOMC Member Bowman speaks - Remarks from Federal Reserve Governor Michelle Bowman that market participants monitor for potential hints about monetary policy direction.
- 11:30 AM ET - Fed Vice Chair for Supervision Barr speaks - Comments from Michael Barr, which may offer insight into supervisory and policy considerations.
- 3:30 PM ET - API Weekly Crude Stock (Previous: -1.790M) - The American Petroleum Institute's weekly inventory release reports changes in crude oil, gasoline and distillate stocks, providing a signal on petroleum demand.
Additional indicators and survey components
- 7:55 AM ET - Redbook (Previous: 7.7%) - A sales-weighted measure of year-over-year same-store sales growth among large US general merchandise retailers.
- 9:00 AM ET - ISM Non-Manufacturing Prices (Previous: 70.7) - Measures price levels within the non-manufacturing sector; readings above 50 indicate rising prices.
- 9:00 AM ET - ISM Non-Manufacturing Business Activity (Previous: 53.9) - Tracks activity levels in the service sector, with readings above 50 signaling expansion.
- 9:00 AM ET - ISM Non-Manufacturing New Orders (Previous: 60.6) - Measures new orders in services and other non-manufacturing industries, indicating potential future activity.
- 9:10 AM ET - IBD/TIPP Economic Optimism (Forecast: 42.0, Previous: 42.8) - A sentiment gauge of expected economic conditions, including a six-month outlook and confidence in federal policies; values above 50 denote optimism.
What markets will be watching
Collectively, the day’s data set offers a multi-angle view of the economy. Building permits and new home sales provide near-term insight into housing demand and construction activity. The Services PMI and the ISM Non-Manufacturing PMI deliver a private and a compendium view, respectively, of the services sector's health. JOLTs adds an employer-reported perspective on labor demand. Trade figures and the S&P Global Composite PMI supplement the picture, while the Atlanta Fed GDPNow estimate and Fed officials' remarks can influence broader growth and policy expectations. Finally, the API weekly crude release offers a snapshot relevant to energy markets.
Traders and strategists will digest these releases in sequence through the morning and into the afternoon, combining hard data and survey results with central-bank commentary to update risk assessments for equities, fixed income, currencies and commodities.
How to interpret the schedule
Readings above the expansion threshold of 50 on the PMI measures typically indicate growth in activity for the services sector. Building permits and new home sales are direct measures of housing-market momentum, while the JOLTs vacancy count informs analysts about labor-market looseness or tightness. Trade balance components and retail sales proxies like Redbook provide additional demand-side context. Observations from Fed officials may influence markets depending on how their remarks align with prevailing views on inflation and monetary policy.
Given the breadth of the releases, market participants may see volatility clustered around the 8:45 AM ET to 11:30 AM ET window when several high-profile data points and speeches occur.
For traders seeking the full calendar
Market participants requiring continuous updates are advised to consult their preferred economic calendar for detailed timing, revisions and real-time releases to ensure they have the latest reads as data are published.