April 24, 2020 Headlines

The Treasury curve is essentially unchanged this morning while equity futures point to an opening in positive territory spurred by a $484 billion stimulus passed by Congress yesterday. Oil has rebounded somewhat after its rough start to the week with WTI hovering around $17 a barrel. The recent equity rally has started to lose steam as the recent spate of economic data points to a severe slow down. US durable orders came out this morning revealing the sharpest decline since 2014, falling by 14.4%. Much of the decline can be traced to a civilian aircraft, which fell by 300%. Core capital goods, which excludes more volatile assets like aircraft and military hardware, increased by 0.1%. Later this morning the University of Michigan will release its consumer sentiment survey which is expected to show reading of 68, a 2 point decline from last month, and would be the lowest level since 2011.

Hafizan Hamzah
Director, Investment Management Group

DateEventSurveyActualPriorRevised
4/20/2020Chicago Fed Nat Activity Index-3-4.190.160.06
4/21/2020Existing Home Sales5.25m5.27m5.77m5.76m
4/21/2020Existing Home Sales MoM-9.00%-8.50%6.50%6.30%
4/22/2020MBA Mortgage Applications-0.30%7.30%
4/22/2020FHFA House Price Index MoM0.30%0.70%0.30%0.50%
4/23/2020Initial Jobless Claims4500k4427k5245k5237k
4/23/2020Continuing Claims16738k15976k11976k11912k
4/23/2020Bloomberg Economic Expectations2946.5
4/23/2020Bloomberg Consumer Comfort41.444.5
4/23/2020Markit US Manufacturing PMI3536.948.5
4/23/2020Markit US Services PMI302739.8
4/23/2020Markit US Composite PMI27.440.9
4/23/2020New Home Sales642k627k765k741k
4/23/2020New Home Sales MoM-16.10%-15.40%-4.40%-4.60%
4/23/2020Kansas City Fed Manf. Activity-37-30-17
4/24/2020Durable Goods Orders-12.00%-14.40%1.20%1.10%
4/24/2020Durables Ex Transportation-6.50%-0.20%-0.60%-0.70%
4/24/2020Cap Goods Orders Nondef Ex Air-6.70%0.10%-0.90%-0.80%
4/24/2020Cap Goods Ship Nondef Ex Air-7.00%-0.20%-0.80%-0.90%
4/24/2020U. of Mich. Sentiment6871
4/24/2020U. of Mich. Current Conditions72.4
4/24/2020U. of Mich. Expectations70
4/24/2020U. of Mich. 1 Yr Inflation2.10%
4/24/2020U. of Mich. 5-10 Yr Inflation2.50%

 

Subscribe Today!

Subscribe to our email list and get the latest articles and announcements from ALM First.

Recent Articles

ALM First offers investment advisory services through ALM First Financial Advisors, LLC, which is registered with the U.S. Securities and Exchange Commission (“SEC”). SEC registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the firm has attained a particular level of skill or ability. The information contained herein does not constitute investment advice or a recommendation for you to purchase or sell any specific security. You are solely responsible for reviewing the content and for any actions you take or choose not to take based on your review of such content.Information contained herein was derived from third party sources as indicated. While such information is believed to be reliable, no representation or warranty is made concerning the accuracy of any information presented. We have not and will not independently verify this information. Where such sources include opinions and projections, such opinions and projections should be ascribed only to the applicable third party source and not to ALM First.Statements herein that reflect projections or expectations of future financial or economic performance are forward-looking statements. Such “forward-looking” statements are based on various assumptions, which assumptions may not prove to be correct. Accordingly, there can be no assurance that such assumptions and statements will accurately predict future events or actual performance. No representation or warranty can be given that the estimates, opinions or assumptions made herein will prove to be accurate. Any projections and forward-looking statements included herein should be considered speculative and are qualified in their entirety by the information and risks disclosed in the confidential offering document. Actual results for any period may or may not approximate such forward-looking statements. No representations or warranties whatsoever are made by ALM First Financial Advisors, LLC or any other person or entity as to the future profitability of investments recommended by ALM First Financial Advisors, LLC.