February 20, 2020 Headlines

The news cycle was relatively quiet overnight from a market perspective, but equities are still struggling ahead of the U.S. open (SPX futures -0.3%). Treasury yields are modestly lower and the curve flatter to start the day. Coronavirus remains the primary focal point for global markets, specifically as it relates to economic implications, and China continues to provide fiscal and monetary stimulus to buffer the blow. Initial jobless claims for the week ended February 15 matched expectations at 210,000, still well below 5-year and 10-year averages of 242,000 and 308,000, respectively.  

Jason Haley
Chief Investment Officer

Date Time Event Survey Actual Prior Revised
2/20/2020 Philadelphia Fed Business Outlook 11 36.7 17
2/20/2020 Initial Jobless Claims 210k 210k 205k 206k
2/20/2020 Continuing Claims 1717k 1726k 1698k 1701k
2/20/2020 Bloomberg Economic Expectations 56
2/20/2020 Bloomberg Consumer Comfort 65.7
2/20/2020 Leading Index 0.40% -0.30%
2/21/2020 Markit US Manufacturing PMI 51.5 51.9
2/21/2020 Markit US Services PMI 53.4 53.4
2/21/2020 Markit US Composite PMI 53.3
2/21/2020 Revisions: Existing Home Sales
2/21/2020 Existing Home Sales 5.45m 5.54m
2/21/2020 Existing Home Sales MoM -1.70% 3.60%

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