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 TimeEventSurveyActualPriorRevised
2/20/2020Philadelphia Fed Business Outlook1136.717
2/20/2020Initial Jobless Claims210k210k205k206k
2/20/2020Continuing Claims1717k1726k1698k1701k
2/20/2020Bloomberg Economic Expectations56
2/20/2020Bloomberg Consumer Comfort65.7
2/20/2020Leading Index0.40%-0.30%
2/21/2020Markit US Manufacturing PMI51.551.9
2/21/2020Markit US Services PMI53.453.4
2/21/2020Markit US Composite PMI53.3
2/21/2020Revisions: Existing Home Sales
2/21/2020Existing Home Sales5.45m5.54m
2/21/2020Existing Home Sales MoM-1.70%3.60%

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