August 30, 2021 Headlines

U.S. markets are little changed to start the week as participants continue to digest Friday’s Powell speech as well as the human and economic impacts of the tragic hurricane hitting the Gulf Coast. The Fed chair’s Jackson Hole speech certainly wasn’t perceived to be hawkish (no surprise there). As the July FOMC minutes suggested, he conceded that “it could be appropriate” to begin tapering asset purchases this year, but he did not convey the same sense of urgency to taper that many of the regional Fed bank presidents have expressed recently. Powell also made sure to emphasize that whatever tapering plans end up being, it “will not be intended to carry a direct signal regarding the timing of interest rate liftoff.” This week’s economic calendar is headlined by the August jobs report on Friday. The Bloomberg median survey currently shows expectations for 750,000 jobs added and a 20 basis point decline in the headline unemployment rate to 5.2%.

Jason Haley
Chief Investment Officer

08/30/21Pending Home Sales MoM0.30%-1.90%
08/30/21Pending Home Sales NSA YoY-8.50%-3.30%
08/30/21Dallas Fed Manf. Activity2327.3
08/31/21FHFA House Price Index MoM1.90%1.70%
08/31/21House Price Purchase Index QoQ3.50%
08/31/21S&P CoreLogic CS 20-City MoM SA1.82%1.81%
08/31/21S&P CoreLogic CS 20-City YoY NSA18.60%16.99%
08/31/21S&P CoreLogic CS US HPI YoY NSA16.61%
08/31/21MNI Chicago PMI6873.4
08/31/21Conf. Board Consumer Confidence123129.1
08/31/21Conf. Board Present Situation160.3
08/31/21Conf. Board Expectations108.4
09/01/21MBA Mortgage Applications1.60%
09/01/21ADP Employment Change625k330k
09/01/21Markit US Manufacturing PMI61.261.2
09/01/21Construction Spending MoM0.20%0.10%
09/01/21ISM Manufacturing58.559.5
09/01/21ISM Prices Paid83.585.7
09/01/21ISM New Orders64.9
09/01/21ISM Employment52.9
09/01/21Wards Total Vehicle Sales14.50m14.75m
09/02/21Challenger Job Cuts YoY-92.80%
09/02/21Nonfarm Productivity2.50%2.30%
09/02/21Initial Jobless Claims345k353k
09/02/21Unit Labor Costs1.00%1.00%
09/02/21Continuing Claims2810k2862k
09/02/21Trade Balance-$71.0b-$75.7b
09/02/21Langer Consumer Comfort57.2
09/02/21Factory Orders0.30%1.50%
09/02/21Factory Orders Ex Trans1.40%
09/02/21Durable Goods Orders-0.10%-0.10%
09/02/21Durables Ex Transportation0.70%0.70%
09/02/21Cap Goods Orders Nondef Ex Air0.00%
09/02/21Cap Goods Ship Nondef Ex Air1.00%
09/03/21Change in Nonfarm Payrolls750k943k
09/03/21Two-Month Payroll Net Revision119k
09/03/21Change in Private Payrolls700k703k
09/03/21Change in Manufact. Payrolls25k27k
09/03/21Unemployment Rate5.20%5.40%
09/03/21Average Hourly Earnings MoM0.30%0.40%
09/03/21Average Hourly Earnings YoY4.00%4.00%
09/03/21Average Weekly Hours All Employees34.834.8
09/03/21Labor Force Participation Rate61.80%61.70%
09/03/21Underemployment Rate9.20%
09/03/21Markit US Services PMI55.255.2
09/03/21Markit US Composite PMI55.4
09/03/21ISM Services Index6264.1


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.