Income, Emplyment and consumer Confidence

Key economic data for the last week of March and first week of April 2010 starting March 29th, 2010.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
03/29/10 8:30 AM	Personal Income	Feb	0.1%	0.1%
03/29/10 8:30 AM	Personal Spending	Feb	0.3%	0.5%
03/29/10 8:30 AM	PCE Prices - Core	Feb	0.1%	0.0%
03/30/10 9:00 AM	Case-Shiller 20-city Index	Jan	-0.6%	-3.1%
03/30/10 10:00 AM	Consumer Confidence	Mar	50.0	46.0
03/31/10 8:15 AM	ADP Employment Change	Mar	40K	-20K
03/31/10 9:45 AM	Chicago PMI	Mar	61.0	62.6
03/31/10 10:00 AM	Factory Orders	Feb	0.5%	1.7%
03/31/10 10:30 AM	Crude Inventories	03/27	NA	7.25M
04/01/10 2:00 PM	Auto Sales	Mar	NA	3.7M
04/01/10 2:00 PM	Truck Sales	Mar	NA	4.2M
04/01/10 8:30 AM	Continuing Claims	03/20	4600K	4648K
04/01/10 8:30 AM	Initial Claims	03/27	440K	442K
04/01/10 10:00 AM	Construction Spending	Feb	-1.0%	-0.6%
04/01/10 10:00 AM	ISM Index	Mar	57.0	56.5
04/02/10 8:30 AM	Nonfarm Payrolls	Mar	190K	-36K
04/02/10 8:30 AM	Unemployment Rate	Mar	9.7%	9.7%
04/02/10 8:30 AM	Average Workweek	Mar	33.9	33.8
04/02/10 8:30 AM	Hourly Earnings	Mar	0.2%	0.1%

Home Sales

Key economic data for the forth week of March 2010 starting March 23rd, 2010. There are no economic news on Monday March 22nd, 2010.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
03/23/10 10:00 AM	Existing Home Sales	Feb	5.00M	5.05M
03/23/10 10:00 AM	FHFA Home Price Index	Jan	-0.9%	-1.6%
03/24/10 8:30 AM	Durable Orders	Feb	0.5%	2.6%
03/24/10 8:30 AM	Durable Orders ex Auto	Feb	0.5%	-1.0%
03/24/10 10:00 AM	New Home Sales	Feb	315K	309K
03/24/10 10:30 AM	Crude Inventories	03/20	NA	1.01M
03/25/10 8:30 AM	Continuing Claims	03/13	4560K	4579K
03/25/10 8:30 AM	Initial Claims	03/20	450K	457K
03/26/10 8:30 AM	GDP - Third Estimate	Q4	5.9%	5.9
03/26/10 8:30 AM	GDP Deflator - Third Estimate	Q4	0.4%	0.4%
03/26/10 9:55 AM	Michigan Sentiment - Final	Mar	73.0	72.5

Philadelphia Fed Index

Philadelphia Fed Index is tracked by the Philadelphia Federal-Reserve Bank (headquartered in Philadelphia, Pennsylvania) and is based on the survey of voluntary participants regarding the direction of change in their overall business activities. This is a regional survey and it covers the Pennsylvania, New Jersey and Delaware regions. The survey measures regional manufacturing growth and covers answer on such questions as employment, new orders, shipments, inventories, prices paid, etc.

The Fed report is one of the most watched reports and one of the most respected of all the regional purchasing manager reports. The Philadelphia Fed Index above zero indicates factory-sector growth, and the Philadelphia Fed Index below zero indicates contraction.

The Philadelphia Fed Index  (also known as the "Business Outlook Survey") is published on monthly basis on the third Thursday of the month and it is considered to be a good barometer of general business conditions.

Triple Witching Week

Key economic data for the third  week of March 2010 starting March 15th, 2010. On Friday March 19, 2010 we have expiration of options. This week know as Triple Witching week, as options, index options and futures will expire during this week.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
03/15/10 8:30 AM	Empire Manufacturing Survey	Mar	21.45	24.91
03/15/10 9:00 AM	Net Long-Term TIC Flows	Dec	$50.0B	$63.3B
03/15/10 9:15 AM	Capacity Utilization	Feb	72.6%	72.6%
03/15/10 9:15 AM	Industrial Production	Feb	0.0%	0.9%
03/16/10 2:15 PM	FOMC Rate Decision	Mar 16	0.25%	0.25%
03/16/10 8:30 AM	Building Permits	Feb	602K	622K
03/16/10 8:30 AM	Housing Starts	Feb	570K	591K
03/16/10 8:30 AM	Import Prices ex-oil	Feb	NA	0.4%
03/16/10 8:30 AM	Export Prices ex-ag.	Feb	NA	0.7%
03/17/10 8:30 AM	Core PPI	Feb	0.1%	0.3%
03/17/10 8:30 AM	PPI	Feb	-0.2%	1.4%
03/17/10 10:30 AM	Crude Inventories	03/13	NA	1.43M
03/18/10 8:30 AM	Core CPI	Feb	0.1%	-0.1%
03/18/10 8:30 AM	CPI	Feb	0.1%	0.2%
03/18/10 8:30 AM	Initial Claims	03/13	450K	462K
03/18/10 8:30 AM	Continuing Claims	03/6	4500K	4558K
03/18/10 8:30 AM	Current Account Balance	Q4	-$120.0B	-$108.0B
03/18/10 10:00 AM	Leading Indicators	Feb	0.1%	0.3%
03/18/10 10:00 AM	Philadelphia Fed	Mar	18.0	17.6

Retail Sales

The Census Bureau releases the Retail Sales data that measure the merchandise sold by companies. The Retailed Sales report is published on monthly basis and is considered as an indicator of the U.S. economy. It includes all retail operations (for cash or credit at retail or wholesale) in the nation, from Wal-Mart to the local bookstore.

The Retail Sales Data measures the amount of goods being sold by establishments primarily engaged in retail trade each month in the United States. It does not include sales at retail by manufacturers, wholesalers, service establishments, and others whose primary activity is other than retail trade.

Treasury Budget

Key economic data for the second week of March 2010 starting March 8th, 2010. The coming week is not rich on economic reports.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
03/10/10 2:00 PM	Treasury Budget	Feb	-$210.0B	-$42.6B
03/10/10 10:00 AM	Wholesale Inventories	Jan	0.2%	-0.8%
03/10/10 10:30 AM	Crude Inventories	03/06	NA	4.03M
03/11/10 8:30 AM	Continuing Claims	2/27	4495K	4500K
03/11/10 8:30 AM	Initial Claims	03/06	460K	469K
03/11/10 8:30 AM	Trade Balance	Jan	-$41.0B	-$40.2B
03/12/10 8:30 AM	Retail Sales	Feb	0.2%	0.5%
03/12/10 8:30 AM	Retail Sales ex-auto	Feb	0.0%	0.6%
03/12/10 9:55 AM	Mich Sentiment	Mar	73.8	73.6
03/12/10 10:00 AM	Business Inventories	Jan	0.2%	-0.2%

Pending Home Sale

In January 2005, the National Association of Realtors (NAR) introduced a new series of reports to overcome the lagging effect of the existing home sales definition. The new report is called Pending Home Sales and is published on monthly basis (first week of the month). The Pending Home Sales data are based on sales of existing homes where the contract has been signed (house was sold on paper) but the transaction has not been closed, which could be considered roughly equivalent to the new home sales. When a home sale contract is sign a broker considers it as a sale and reports it as a sale. However, until transaction is not closed this sale is considered as pending and not closed. Taking into account that some sales contracts are never consummated, pending contract cannot be considered as existing home sale.

The pending Home Sales data are are expressed as an index and were recalculated back to 2001 where the the index has been set to equal 100.0. The Pending Home Sales Index (PHSI) is considered as leading indicator of the activity in the housing market and this index is used to predict Existing Home Sales (Pending becomes Existing in several months) as well as predict actual home sales activity.

Fed's Beige Book Week

Key economic data for the First week of March 2010 starting March 1st, 2010. Futures, options and index options will expire in March.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
03/01/10 8:30 AM	Personal Income	Jan	0.4%	0.4%
03/01/10 8:30 AM	Personal Spending	Jan	0.4%	0.2%
03/01/10 8:30 AM	PCE Prices - Core	Jan	0.1%	0.1%
03/01/10 10:00 AM	Construction Spending	Jan	-0.5%	-1.2%
03/01/10 10:00 AM	ISM Index	Feb	57.8	58.4
03/02/10 2:00 PM	Auto Sales	Feb	NA	3.8M
03/02/10 2:00 PM	Truck Sales	Feb	NA	4.4M
03/03/10 2:00 PM	Fed's Beige Book	Mar	NA	NA
03/03/10 7:30 AM	Challenger Job Cuts YoY	Feb	NA	-70.4%
03/03/10 8:15 AM	ADP Employment Change	Feb	-10K	-22K
03/03/10 10:00 AM	ISM Services	Feb	51.0	50.5
03/03/10 10:30 AM	Crude Inventories	2/26	NA	3.03M
03/04/10 8:30 AM	Initial Claims	02/27	475K	495K
03/04/10 8:30 AM	Continuing Claims	02/20	NA	4617K
03/04/10 8:30 AM	Productivity-Rev.	Q4	6.2%	6.2%
03/04/10 8:30 AM	Unit Labor Costs	Q4	-4.4%	-4.4%
03/04/10 10:00 AM	Factory Orders	Jan	1.2%	1.0%
03/04/10 10:00 AM	Pending Home Sales	Jan	1.7%	1.0%
03/05/10 3:00 PM	Consumer Credit	Jan	-$3.8B	-$1.7B
03/05/10 8:30 AM	Unemployment Rate	Feb	9.8%	9.7%
03/05/10 8:30 AM	Nonfarm Payrolls	Feb	-20K	-20K
03/05/10 8:30 AM	Hourly Earnings	Feb	0.2%	0.2%
03/05/10 8:30 AM	Average Workweek	Feb	33.7	33.9

New Home Sales

New Home Sales statistics report is published by the United States Census Bureau on monthly basis. The report covers the number of sales of newly constructed residences in the United States of America and is considered as an economical indicator of the economy's health. The new Home Sales numbers are sensitive to the consumer income. As a rule, in growing economy when the consumers average income is growing, the number of newly constructed residences sales is growing. At the same time, a reversal down in New Home Sales report could serve as an early indicator of slow down in the economy and possibility of coming depression. Furthermore, the release of New Home Sales report may have significant impact on Wall Street.

GDP Estimates

Key economic data for the forth week (last week) of February 2010 starting February 23th, 2010. There are no economic reports on Monday February 22nd, 2010. Last week FED announcement of rate increase to 0.75% did not affect the sentiment on the stock market.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
02/23/10 9:00 AM	Case-Shiller 20-city Index	Dec	-3.1%	-5.3%
02/23/10 10:00 AM	Consumer Confidence	Feb	55.0	55.9
02/24/10 10:00 AM	New Home Sales	Jan	355K	342K
02/24/10 10:30 AM	Crude Inventories	2/19	NA	3.08M
02/25/10 8:30 AM	Initial Claims	02/20	460K	473K
02/25/10 8:30 AM	Continuing Claims	02/13	4570K	4563K
02/25/10 8:30 AM	Durable Orders	Jan	1.5%	0.3%
02/25/10 10:00 AM	FHFA Housing Price Index	Dec	NA	0.7&
02/26/10 8:30 AM	GDP - Second Estimate	Q4	5.7%	5.7%
02/26/10 8:30 AM	GDP Deflator - Second Estimate	Q4	0.6%	0.6%
02/26/10 9:45 AM	Chicago PMI	Feb	59.0	61.5
02/26/10 9:55 AM	U Michigan Consumer Sentiment - Final	Feb	74.0	73.7
02/26/10 10:00 AM	Existing Home Sales	Jan	5.50M	5.45M