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

Date Event Surv(M) Actual Prior Revised
08/30/21 Pending Home Sales MoM 0.30% — -1.90% —
08/30/21 Pending Home Sales NSA YoY -8.50% — -3.30% —
08/30/21 Dallas Fed Manf. Activity 23 — 27.3 —
08/31/21 FHFA House Price Index MoM 1.90% — 1.70% —
08/31/21 House Price Purchase Index QoQ — — 3.50% —
08/31/21 S&P CoreLogic CS 20-City MoM SA 1.82% — 1.81% —
08/31/21 S&P CoreLogic CS 20-City YoY NSA 18.60% — 16.99% —
08/31/21 S&P CoreLogic CS US HPI YoY NSA — — 16.61% —
08/31/21 MNI Chicago PMI 68 — 73.4 —
08/31/21 Conf. Board Consumer Confidence 123 — 129.1 —
08/31/21 Conf. Board Present Situation — — 160.3 —
08/31/21 Conf. Board Expectations — — 108.4 —
09/01/21 MBA Mortgage Applications — — 1.60% —
09/01/21 ADP Employment Change 625k — 330k —
09/01/21 Markit US Manufacturing PMI 61.2 — 61.2 —
09/01/21 Construction Spending MoM 0.20% — 0.10% —
09/01/21 ISM Manufacturing 58.5 — 59.5 —
09/01/21 ISM Prices Paid 83.5 — 85.7 —
09/01/21 ISM New Orders — — 64.9 —
09/01/21 ISM Employment — — 52.9 —
09/01/21 Wards Total Vehicle Sales 14.50m — 14.75m —
09/02/21 Challenger Job Cuts YoY — — -92.80% —
09/02/21 Nonfarm Productivity 2.50% — 2.30% —
09/02/21 Initial Jobless Claims 345k — 353k —
09/02/21 Unit Labor Costs 1.00% — 1.00% —
09/02/21 Continuing Claims 2810k — 2862k —
09/02/21 Trade Balance -$71.0b — -$75.7b —
09/02/21 Langer Consumer Comfort — — 57.2 —
09/02/21 Factory Orders 0.30% — 1.50% —
09/02/21 Factory Orders Ex Trans — — 1.40% —
09/02/21 Durable Goods Orders -0.10% — -0.10% —
09/02/21 Durables Ex Transportation 0.70% — 0.70% —
09/02/21 Cap Goods Orders Nondef Ex Air — — 0.00% —
09/02/21 Cap Goods Ship Nondef Ex Air — — 1.00% —
09/03/21 Change in Nonfarm Payrolls 750k — 943k —
09/03/21 Two-Month Payroll Net Revision — — 119k —
09/03/21 Change in Private Payrolls 700k — 703k —
09/03/21 Change in Manufact. Payrolls 25k — 27k —
09/03/21 Unemployment Rate 5.20% — 5.40% —
09/03/21 Average Hourly Earnings MoM 0.30% — 0.40% —
09/03/21 Average Hourly Earnings YoY 4.00% — 4.00% —
09/03/21 Average Weekly Hours All Employees 34.8 — 34.8 —
09/03/21 Labor Force Participation Rate 61.80% — 61.70% —
09/03/21 Underemployment Rate — — 9.20% —
09/03/21 Markit US Services PMI 55.2 — 55.2 —
09/03/21 Markit US Composite PMI — — 55.4 —
09/03/21 ISM Services Index 62 — 64.1 —

 

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