Positive Confidence Report Expected

The four-day week will bring a raft of economic data, including consumer confidence figures, expected Tuesday, and productivity statistics, expected Friday.

Confidence is key because two-thirds of the U.S. economy is propped up by consumer spending, and productivity is important because efficient companies can cut costs and improve earnings growth.

“Confidence numbers will be pretty good, and I don’t expect it to go down a lot,” said James Luke, director of growth equity management at BB&T; Asset Management, which oversees $10 billion. “I feel the market is poised to rally here, though I think we’ll get away from explosive moves. It’s a three-steps-forward, two-steps-back kind of market.”

Other economic reports this week:

* Tuesday, the Commerce Department will report on personal incomes in April.

The National Assn. of Realtors will report on sales of previously owned homes in April.

Friday, the Commerce Department will report on orders placed with the nation’s factories for automobiles and other goods in April.

The Labor Department will report on first-quarter productivity.

Chicago purchasing managers will issue the regional manufacturing index for May.

The University of Michigan will issue the final May reading of its index of consumer sentiment.