January 22, 2020 Headlines

Global markets were calmer overnight following yesterday’s sell off fueled by coronavirus concerns. S&P 500 futures are up 0.38%, and Treasury yields are drifting modestly higher. The impeachment trial continues today, but financial markets still aren’t reacting in any material way at this point. In a Fox Business interview yesterday, President Trump said that a new “middle class tax cut” will be announced in the next 90 days, and the president also threatened new 225% tariffs on cars from the European Union if a deal is not struck between the two parties.

Jason Haley
Chief Investment Officer

1/22/2020MBA Mortgage Applications-1.20%30.20%
1/22/2020Chicago Fed Nat Activity Index0.13-0.350.560.41
1/22/2020FHFA House Price Index MoM0.30%0.20%0.20%0.40%
1/22/2020Existing Home Sales5.43m5.35m
1/22/2020Existing Home Sales MoM1.50%-1.70%
1/23/2020Initial Jobless Claims214k204k
1/23/2020Continuing Claims1750k1767k
1/23/2020Bloomberg Economic Expectations56.5
1/23/2020Bloomberg Consumer Comfort66
1/23/2020Leading Index-0.20%0.00%
1/23/2020Revisions – LEI
1/23/2020Kansas City Fed Manf. Activity-6-8
1/24/2020Markit US Services PMI5352.8
1/24/2020Markit US Composite PMI52.7
1/24/2020Markit US Manufacturing PMI52.552.4


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