December 2, 2019 Headlines

Better PMI data in Asia and Europe is contributing to higher Treasury yields this morning.  S&P 500 futures are little changed ahead of the open, with equity investors a little more concerned with trade headlines over the weekend.  Reuters reported Friday that U.S. officials are considering new regulations that would further restrict American suppliers to Huawei. On the other side, Chinese media reported that China will not accept a phase-one deal unless all existing tariffs are lifted (as opposed to just canceling the 12/15 tariffs).  This week’s economic calendar is headlined by the November jobs report on Friday, and Fed Vice Chair Randal Quarles will speak to Congress this week on bank supervision and regulation.

Jason Haley
Managing Director, Investment Management Group

DateEventSurveyActualPriorRevised
12/2/2019Markit US Manufacturing PMI52.252.652.2
12/2/2019ISM Manufacturing49.248.148.3
12/2/2019ISM Employment48.246.647.7
12/2/2019ISM Prices Paid4746.745.5
12/2/2019ISM New Orders4947.249.1
12/2/2019Construction Spending MoM0.40%-0.80%0.50%-0.30%
12/3/2019Wards Total Vehicle Sales16.90m16.55m
12/4/2019MBA Mortgage Applications1.50%
12/4/2019ADP Employment Change140k125k
12/4/2019Markit US Services PMI51.651.6
12/4/2019Markit US Composite PMI51.9
12/4/2019ISM Non-Manufacturing Index54.554.7
12/5/2019Challenger Job Cuts YoY-33.50%
12/5/2019Initial Jobless Claims215k213k
12/5/2019Continuing Claims1661k1640k
12/5/2019Trade Balance-$48.6b-$52.5b
12/5/2019Bloomberg Consumer Comfort60.5
12/5/2019Factory Orders0.30%-0.60%
12/5/2019Factory Orders Ex Trans-0.10%
12/5/2019Durable Goods Orders0.60%0.60%
12/5/2019Durables Ex Transportation0.60%0.60%
12/5/2019Cap Goods Orders Nondef Ex Air1.20%
12/5/2019Cap Goods Ship Nondef Ex Air0.80%
12/6/2019Change in Nonfarm Payrolls188k128k
12/6/2019Two-Month Payroll Net Revision95k
12/6/2019Change in Private Payrolls178k131k
12/6/2019Change in Manufact. Payrolls40k-36k
12/6/2019Unemployment Rate3.60%3.60%
12/6/2019Average Hourly Earnings MoM0.30%0.20%
12/6/2019Average Hourly Earnings YoY3.00%3.00%
12/6/2019Average Weekly Hours All Employees34.434.4
12/6/2019Labor Force Participation Rate63.30%
12/6/2019Underemployment Rate7.00%
12/6/2019Wholesale Inventories MoM0.20%0.20%
12/6/2019Wholesale Trade Sales MoM0.00%
12/6/2019U. of Mich. Sentiment9796.8
12/6/2019U. of Mich. Current Conditions112.8111.6
12/6/2019U. of Mich. Expectations87.587.3
12/6/2019U. of Mich. 1 Yr Inflation2.50%
12/6/2019U. of Mich. 5-10 Yr Inflation2.50%
12/6/2019Consumer Credit$16.000b$9.513b

 

 

 

 

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.