The Business Week Ahead

A solid, in-trend employment report on Friday is expected to cap the week's economic data, data that otherwise are expected to be mixed. The ISM manufacturing report will open the week but only modest strength is expected for the April report. Motor vehicle sales will follow on Tuesday and a solid gain, benefiting from an easy comparison against a weak March, is expected. Wednesday's data are nearly certain to show a narrowing in the trade gap but one based, not on strength of foreign demand, but on weakness in domestic demand. A possible highlight of the week will also be on Wednesday, the ISM non-manufacturing report which is once again expected to signal general strength for the bulk of the economy. Strength is expected to be most clearly expressed in the April employment report where the Econoday consensus is calling for a 200,000 rise in nonfarm payrolls and a 1 tenth downtick in the unemployment rate to 4.9 percent.