April 25, 2019 Headlines

It was another quiet overnight session with no major macro headlines driving activity. Treasuries are little changed this morning, but U.S. equities are opening lower despite solid earnings reports from Microsoft and Facebook. Investors will continue to focus on earnings over the next several days, while keeping a close eye on any developments on the trade front. The next FOMC meeting will take place next Wednesday, but it isn’t expected to result any new meaningful information. The first estimate of Q1 GDP will be released tomorrow, and the March PCE report will be released on Monday.

Jason Haley
Managing Director, Investment Management Group

Date	Event	Surv(M)	Actual	Prior	Revised
04/22/19	Chicago Fed Nat Activity Index	-0.1	-0.15	-0.29	-0.31
04/22/19	Existing Home Sales	5.30m	5.21m	5.51m	5.48m
04/22/19	Existing Home Sales MoM	-3.80%	-4.90%	11.80%	11.20%
04/23/19	FHFA House Price Index MoM	0.50%	0.30%	0.60%	—
04/23/19	Richmond Fed Manufact. Index	10	3	10	—
04/23/19	New Home Sales	649k	692k	667k	662k
04/23/19	New Home Sales MoM	-2.70%	4.50%	4.90%	5.90%
04/24/19	MBA Mortgage Applications	—	-7.30%	-3.50%	—
04/25/19	Initial Jobless Claims	200k	230k	192k	193k
04/25/19	Continuing Claims	1682k	1655k	1653k	1654k
04/25/19	Durable Goods Orders	0.80%	2.70%	-1.60%	-1.10%
04/25/19	Durables Ex Transportation	0.20%	0.40%	-0.10%	-0.20%
04/25/19	Cap Goods Orders Nondef Ex Air	0.20%	1.30%	-0.10%	0.10%
04/25/19	Cap Goods Ship Nondef Ex Air	0.10%	-0.20%	-0.10%	0.20%
04/25/19	Bloomberg Consumer Comfort	—	60.8	60.3	—
04/25/19	Kansas City Fed Manf. Activity	8	—	10	—
04/26/19	GDP Annualized QoQ	2.30%	—	2.20%	—
04/26/19	Personal Consumption	1.00%	—	2.50%	—
04/26/19	GDP Price Index	1.20%	—	1.70%	—
04/26/19	Core PCE QoQ	1.30%	—	1.80%	—
04/26/19	U. of Mich. Sentiment	97	—	96.9	—
04/26/19	U. of Mich. Current Conditions	—	—	114.2	—
04/26/19	U. of Mich. Expectations	—	—	85.8	—
04/26/19	U. of Mich. 1 Yr Inflation	—	—	2.40%	—
04/26/19	U. of Mich. 5-10 Yr Inflation	—	—	2.30%	—

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