Week Ahead: Memorial Day travel, jobs report, tax committee town hall

Here’s a look at some of the stories Missouri Business Alert is tracking this week:

Top picks

• Monday is Memorial Day, and the holiday weekend was expected to spur more than 39.3 million Americans to travel at least 50 miles from home, according to AAA. That would be the busiest Memorial Day of travel since 2005, AAA said, reflecting broader consumer confidence and more spending on travel.

• Gov. Eric Greitens starts the week with a new bill awaiting his signature after the Senate approved the so-called steel mill bill on Friday to end the legislature’s special session. The bill would allow the Missouri Public Service Commission to negotiate with Ameren Missouri for lower utility rates for a shuttered smelting plant and a prospective steel mill. Greitens has suggested he might call additional special sessions to address other issues.

• On Wednesday, the Federal Reserve Bank will release its final Beige Book report of the year’s first half, providing an anecdotal glimpse of the economic conditions in each of the central bank’s 12 districts.

• The Bureau of Labor Statistics will release its May Employment Situation Summary on Friday. Econoday’s consensus estimate projects 185,000 new jobs, down from 211,000 last month, and the unemployment rate holding steady at 4.4 percent. This is the last jobs report before the Federal Open Market Committee meets June 13-14 to determine interest rates.

• The third of four scheduled town hall meetings for the Governor’s Committee on Simple, Fair and Low Taxes is set to take place Friday evening in Cape Girardeau. The meetings, designed to give the committee a chance to “gather public opinion on issues surrounding taxes in the state,” conclude with a June 7 session in Springfield.

Day planner

Monday

Markets are closed for Memorial Day

Tuesday

Personal income and outlays reported; Consumer Confidence Index released

Wednesday

Pending Home Sales Index released; Fed Beige Book released; farm prices reported; motor vehicle sales reported; earnings expected from Hewlett Packard Enterprise and Michael Kors

Thursday

Chain store sales reported; PMI Manufacturing Index released; ISM Manufacturing Index released; earnings expected from Dollar General, Express and Lululemon Athletica

Friday

Employment Situation Summary released; international trade reported


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