December 3, 2020 Headlines

Treasury yields are unchanged this morning with the 10-year sitting at 93 bps while equity futures are slightly in negative territory. Initial jobless claims fell last week from a revised 787k to 712k, the steepest decline in nearly two months. Continuing claims also fell, declining to 5.52 million from 6.07 million the week prior. Both numbers came below forecast and offer a glimmer of an improving labor market. The caveat of course is that Thanksgiving was last week, and holidays can make seasonal adjustments more difficult.

Hafizan Hamzah
Director, Investment Management Group

Date	Event	Surv(M)	Actual	Prior	Revised
11/30/20	MNI Chicago PMI	59	58.2	61.1	—
11/30/20	Pending Home Sales MoM	1.00%	-1.10%	-2.20%	-2.00%
11/30/20	Pending Home Sales NSA YoY	—	19.50%	21.90%	22.20%
11/30/20	Dallas Fed Manf. Activity	14.3	12	19.8	—
12/01/20	Markit US Manufacturing PMI	56.7	56.7	56.7	—
12/01/20	ISM Manufacturing	58	57.5	59.3	—
12/01/20	ISM New Orders	—	65.1	67.9	—
12/01/20	ISM Prices Paid	65	65.4	65.5	—
12/01/20	ISM Employment	—	48.4	53.2	—
12/01/20	Construction Spending MoM	0.80%	1.30%	0.30%	-0.50%
12/01/20	Wards Total Vehicle Sales	16.10m	15.55m	16.21m	—
12/02/20	MBA Mortgage Applications	—	-0.60%	3.90%	—
12/02/20	ADP Employment Change	440k	307k	365k	404k
12/02/20	U.S. Federal Reserve Releases Beige Book
12/03/20	Challenger Job Cuts YoY	—	45.40%	60.40%	—
12/03/20	Initial Jobless Claims	775k	712k	778k	787k
12/03/20	Continuing Claims	5800k	5520k	6071k	6089k
12/03/20	Bloomberg Consumer Comfort	—	—	49.6	—
12/03/20	Markit US Services PMI	57.5	—	57.7	—
12/03/20	Markit US Composite PMI	—	—	57.9	—
12/03/20	ISM Services Index	55.8	—	56.6	—
12/04/20	Change in Nonfarm Payrolls	475k	—	638k	—
12/04/20	Two-Month Payroll Net Revision	—	—	—	—
12/04/20	Change in Private Payrolls	545k	—	906k	—
12/04/20	Change in Manufact. Payrolls	45k	—	38k	—
12/04/20	Unemployment Rate	6.80%	—	6.90%	—
12/04/20	Average Hourly Earnings MoM	0.10%	—	0.10%	—
12/04/20	Average Hourly Earnings YoY	4.20%	—	4.50%	—
12/04/20	Average Weekly Hours All Employees	34.8	—	34.8	—
12/04/20	Labor Force Participation Rate	61.70%	—	61.70%	—
12/04/20	Underemployment Rate	—	—	12.10%	—
12/04/20	Trade Balance	-$64.8b	—	-$63.9b	—
12/04/20	Factory Orders	0.80%	—	1.10%	—
12/04/20	Factory Orders Ex Trans	—	—	0.50%	—
12/04/20	Durable Goods Orders	1.30%	—	1.30%	—
12/04/20	Durables Ex Transportation	1.30%	—	1.30%	—
12/04/20	Cap Goods Orders Nondef Ex Air	0.70%	—	0.70%	—
12/04/20	Cap Goods Ship Nondef Ex Air	—	—	2.30%	—

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.