This week will provide us with our first peak into this month’s manufacturing and housing sector data with Monday’s Empire State Manufacturing Survey and NAHB/Wells Fargo Housing Market Index. They will be followed up later in the week with the Philly Fed manufacturing survey, and both housing starts and existing home sales on the housing […]
Archive:
Jobless Claims
Initial jobless claims rose to 4K this week to 558K, compared to a previous revised reading of 554K and a Bloomberg consensus forecast of 543K. This number has been trending to lower, which indicates a slowing improvement for the US labor market. But, claims still remains far from healthy levels, and still indicates significant deterioration […]
On the economics front this week we have a rather light calendar compared to last week, but not without some significant releases. The weeks starts out slow with no noteworthy releases on Monday, followed up by productivity and costs on Tuesday. The week closes with the hard hitting trifecta of July’s CPI, June’s Industrial Production, […]
Initial jobless claims for the week ending Aug 1, fell 38K to 550K, compared to a street consensus of 575K. The week prior’s number was revised up to 588K from 584K. This points to continued improvement in the labor market from what. however, is a rather dismal base. Claims at these levels still point toward […]
Following last week’s mixed data, the market will be searching for indications of the strength and timing of a US economic recovery — and there will be plenty of places to look. In contrast to the relative quiet of the past several weeks, a slew of economic indicators pertaining to jobs and manufacturing should be […]
Initial Claims rose 25K to 584K, as the index continues to adjust for erroneous seasonal adjustment factors stemming from early auto plant closures. The good news these askew effects have by now likely all been washed out, so we should once again be able to rely on claims as a reliable indicator. On that note, […]
After last week’s barrage of economic data, this week is relatively light. The few exceptions will be Monday’s leading indicator release, Thursday’s jobless claims and existing home sales data, and Friday’s consumer sentiment report. This week’s claims data will likely take on added importance as the market tries to decipher the impact early auto plant […]
As I mentioned was a likely scenario in my US Economic Week Ahead, jobless claims fell 47K to 522K. As with last week, early auto company layoffs have likely distorted the index due to misaligned seasonal adjustments. I do believe we should continue to see an improvement in jobless claims, but the levels seen over […]
Despite a rather hectic week of economic releases; earnings news will likely steal the show this week. Big names on the earnings calendar this week include Goldman Sachs, JPMorgan, Bank of America, Citigroup, GE, Intel, Google, IBM, and Johnson & Johnson. However, a recent mixture of good and bad economic news, including decreasing consumer sentiment, […]
Initial Claims finished came in this morning at 565K versus the previous week’s reading of 614K and a consensus forecast of 610K. I believe the improvement may have been exaggerated by inaccurate seasonal adjustment factors stemming from the timing of automotive and other manufacturing lay-offs, which could be repeated next week. Although, I do believe […]