@ The White House
In the morning, the President will receive the Presidential Daily Briefing in the Oval Office.
Later in the morning, the President will deliver remarks at the Building and Construction Trades Department Legislative Conference.
Next, the President will welcome Prime Minister Yoshihiko Noda of Japan to the White House for a bilateral meeting. The President looks forward to holding discussions with the Prime Minister on a wide range of bilateral, regional and global issues, including the U.S.-Japan Security Alliance, economic and trade issues, and deepening bilateral cooperation. The two leaders will also discuss regional and global security concerns.
In the afternoon, the President will hold a working lunch with Prime Minister Noda in the Old Family Dining Room. Later in the afternoon, the President will hold a press conference with Prime Minister Noda in the Rose Garden. Later, the President will meet with Treasury Secretary Geithner in the Oval Office.
@ Wall Street
The data this coming week (April 30 ? May 4) culminate with the always critical employment report for April.
Layoffs increased this month, and IHS expects the economy created 165,000 jobs ? better than March but below the 200,000+ clip that was seen earlier in the year. This won?t be enough to pull down the unemployment rate, which is expected to float back up to 8.3%. Otherwise, consumer spending likely increased at a much slower pace in March than in February, while core inflation picked up.
Vehicle sales in April were probably similar to March at around 14.2 million. The ISM Manufacturing and Non-Manufacturing Indices are expected to have fallen a bit in April, but to have stayed well within expansion territory.
Labor productivity in the first quarter is seen slipping as businesses used more labor to boost output. But hourly compensation growth was likely subdued, meaning only a modest increase in unit labor costs.
