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(U2) Recovers Off Lows, Remains Neutral


Pierces Key Support


Corrective Cycle Extends

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OUTLOOK: *** Data/speaker calendar (prior, estimate): 
- May 03 Apr challenger layoff plans (39.4%, --) 0730ET
- May 03 28-Apr jobless claims (209k, 225k) 0830ET
- May 03 Q1 non-farm productivity (p) (0.0%, 0.9%) 0830ET
- May 03 Q1 unit labor costs (p) (2.5%, 3.0%) 0830ET
- May 03 Mar trade balance (-$57.6b, -$49.8b) 0830ET
- May 03 Apr Markit Services Index (final) (54.4, --) 0945ET
- May 03 29-Apr Bloomberg comfort index (57.5, --) 0945ET
- May 03 Apr ISM Non-manufacturing Index (58.8, 58.2) 1000ET
- May 03 Mar factory new orders (1.2%, 1.4%) 1000ET
- May 03 Mar factory orders ex transport (0.1%, --) 1000ET
- May 03 27-Apr natural gas stocks w/w (-18Bcf, --) 1030ET
- May 03 02-May Fed weekly securities holdings 1630ET

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