There’s no doubt this week’s most important release will be Friday’s employment report, which is expected to show a decline in payrolls of -170K with an unemployment rate of 9.8%. This week could prove critical as markets try to regain some traction after several negative surprises last week, including lower than anticipated existing home sales […]
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Jobless Claims
Undoubtedly the most important item on this week’s calendar will be Wednesday’s FOMC announcement, which is highly unlikely to show any changes to the current policy stance. But, as always, the market will be paying close attention the wording of the FOMC’s statement, which turned slightly more constructive last month indicating that financial markets have […]
August housing starts rose 1.5% to 0.598mn, compared to a consensus estimate of 0.600mn. Looking further into the details, single-family starts are down -3.0%, while multi-unit homes grew by +25.5%.In August permits rose by 2.7%, to 579K. July’s permits were revised to 564K from 560K. Going forward there could be some downside risks to this […]
After last week’s relatively light economic calendar, the market faces a deluge of data from nearly every facet of the economy. With that said this week’s most closely watched release will likely be Tuesday’s retail sales announcement, which is expected to show a +2.0% gain on the back of increased auto-sales and higher gas prices, […]
With the shortened week comes a rather light economic calendar, with the most significant release likely being the Fed’s Beige Book on Wednesday, followed by consumer sentiment on Friday. This week’s lull will come to an abrupt end next week with the release of the retails sales and Industrial production data, among others. In addition […]
Initial claims this week fell by 4K this week declining to 570, this was above the Bloomberg consensus forecast of 562K. But, the 4wk moving average reached its highest level in 7wks at 571.25K. Last week’s number was revised to 570K from 574K. Continuing claims rose 92K reaching 6.23mn. Initial claims should marginally improve over […]
This week brings the onset of a notoriously bad month for returns, and given the week’s vast array of critical data, the ball is sure to start rolling in one direction or another. First let me apologize if this week’s calendar seems somewhat abridged, as I am on vacation, and am writing it amid the […]
US 2Q09 GDP remained unchanged from the advance reading of -1.0%, a month earlier. The consensus estimate for the revision was -1.5%. Despite what was no change in the headline number, there were revisions to the data behind it with exports and consumption being revised up, while inventories and non-residential spending were revised down. […]
This week looks to be another whirlwind week of significant economic releases coming from the consumer and housing sectors, along with an update on 2Q09 GDP growth. In addition to this, Monday will see the end of the US government’s highly successful ‘Cash for Clunkers’ program, which over the course of its existence has positively […]
Initial jobless claims rose this morning by 15K to 576K compared to last week’s number revised number of 561K, and a consensus forecast of 550K. This is the second consecutive week claims have unexpectedly risen. The 4wk moving average moved up by 4,250 to 570K. Despite the rise over the past two weeks, claims should […]