@ The White House
In the morning, the President and the Vice President will meet with Secretary of State Clinton in the Oval Office.
Later in the morning, the President will travel to Bettendorf, Iowa. The departure from the South Lawn and the arrival at Quad City International Airport are open press.
In Iowa, the President will visit the Alcoa Davenport Works Factory in Bettendorf, where he will tour the facility and discuss the critical role that the manufacturing sector plays in the American economy. Manufacturing serves as the backbone of communities across our country and the continued revitalization of the manufacturing sector is critical to America?s success as we compete in a 21st century global economy.
In the evening, the President will return to the White House.
@ Wall Street
Two big macroeconomic releases. Month-on-month, the Case-Shiller 20-city composite home price index is likely to rise for the first time in nine months in April because of a strong seasonal factor. The seasonally adjusted index, though, will likely show a decline. The rate of descent of this index is moderating.
In April, consumer confidence was sitting at 66.0; since then the consumer mood has become more pessimistic due to poor payroll numbers, a further decline in home prices, increasing non-energy prices, and an unsettling stock market. Consumer confidence is at depressed levels and consumer spending is looking very weak.
