As markets head into the final trading day of the week, attention will center on a concentrated set of indicators that could influence near-term positioning. On Friday, April 24, 2026, market participants are due to receive the University of Michigan’s final readings for consumer sentiment and expectations, weekly rig counts from Baker Hughes covering U.S. and total rigs, and the Commodity Futures Trading Commission’s (CFTC) weekly Commitments of Traders (COT) reports. Collectively, these releases offer contemporaneous insights into household confidence, physical industry activity in oil and gas, and speculative flows across multiple futures markets.
Why these releases matter
The University of Michigan measures provide a regular snapshot of how roughly 500 surveyed consumers view both current economic conditions and prospects. Those confidence and expectations components can affect consumption decisions and shape narratives around household demand. Baker Hughes’ rig counts serve as a short-term barometer of drilling activity and services demand in the energy sector. The CFTC COT reports detail net speculative positions in futures markets, revealing how leveraged traders are positioned in S&P 500, Nasdaq 100, gold, crude oil and a range of agricultural and industrial commodities.
Major economic events to watch
There are no 3-star economic events scheduled for the day. Key items on the calendar include the following timed releases (all times ET):
- 9:00 AM ET - Michigan Consumer Expectations: Expected at 46.1, down from previous 51.7. This expectations component measures consumer outlook for future economic conditions based on survey responses from around 500 consumers.
- 9:00 AM ET - Michigan Consumer Sentiment: Expected at 47.6, down from previous 53.3. The University of Michigan Consumer Sentiment Index rates the relative level of current and future economic conditions, compiled from survey data of approximately 500 consumers.
- 12:00 PM ET - Baker Hughes U.S. Rig Count: Previous 410. An important business barometer for the oil drilling industry that acts as a leading indicator of demand for oil products and services.
- 12:00 PM ET - U.S. Baker Hughes Total Rig Count: Previous 543. Tracks the total number of active drilling rigs across all categories in the United States.
- 2:30 PM ET - CFTC S&P 500 Speculative Positions: Previous -115.8K. The weekly Commitments of Traders report provides a breakdown of net positions for speculative traders in S&P 500 futures markets.
- 2:30 PM ET - CFTC Nasdaq 100 Speculative Positions: Previous 10.8K. Reveals speculative trader positioning in Nasdaq 100 futures markets.
- 2:30 PM ET - CFTC Gold Speculative Positions: Previous 162.5K. Shows net positions held by speculative traders in gold futures markets, considered an indicator for analyzing market sentiment.
- 2:30 PM ET - CFTC Crude Oil Speculative Positions: Previous 206.5K. Tracks speculative positioning in crude oil futures markets.
Additional Michigan and CFTC metrics
The Michigan release includes shorter- and longer-term inflation expectations and a measure of current conditions. Those items are scheduled at 9:00 AM ET and the expectations are shown below with their prior readings:
- Michigan 5-Year Inflation Expectations: Expected at 3.4%, up from previous 3.2%. This presents the median expected price changes over the next five years as surveyed by the University of Michigan.
- Michigan 1-Year Inflation Expectations: Expected at 4.8%, up from previous 3.8%. Measures the percentage that consumers expect prices of goods and services to change during the next 12 months.
- Michigan Current Conditions: Expected at 50.1, down from previous 55.8. The current conditions component of the Michigan sentiment index is based on consumer survey responses about present economic circumstances.
Later in the afternoon, at 2:30 PM ET, the CFTC will publish a broad set of speculative position metrics across commodities and agricultural markets. Those published position reads and their previous values are included for reference:
- Aluminium Speculative Net Positions: Previous 0.5K.
- Soybeans Speculative Positions: Previous 201.7K.
- Corn Speculative Positions: Previous 248.9K.
- Wheat Speculative Positions: Previous -18.4K.
- Natural Gas Speculative Positions: Previous -186.9K.
- Silver Speculative Positions: Previous 23.6K.
- Copper Speculative Positions: Previous 55.1K.
Market implications and sectors to watch
The scheduled Michigan data speak most directly to household consumption and inflation expectations, which in turn link to demand-sensitive sectors such as consumer discretionary and staples. Baker Hughes’ rig counts are a near-term gauge for the energy sector and oilfield services firms, while the CFTC positioning reports illuminate speculative flows that can amplify moves in equity indices, precious metals, energy and agricultural commodity markets.
Investors and risk managers often use these concurrent data points together to form a clearer picture of sentiment, activity and leverage across markets heading into the weekend.
What to monitor when the releases arrive
- How the final Michigan readings compare with the expectations components noted above - particularly the 46.1 expected for Consumer Expectations and 47.6 expected for Consumer Sentiment.
- Whether Baker Hughes reports retain or alter the recent U.S. and total rig counts relative to the previous 410 and 543 readings.
- Changes in speculative net positions in the CFTC reports relative to the previous values cited, which could indicate shifts in leveraged trader appetite across asset classes.
These items will arrive in a compressed window on Friday and may influence late-week rebalancing decisions.
Conclusion
Friday’s calendar supplies multiple synchronized datapoints: household sentiment and inflation expectations from the University of Michigan, activity signals from Baker Hughes’ rig counts, and a comprehensive picture of speculative positioning from the CFTC. Each release offers market participants a discrete datapoint; together they form a rounded view of consumer outlook, energy sector activity and leverage across futures markets heading into the weekend.