January 3, 2020 Headlines

The S&P 500 reached record highs yesterday on news that China’s central bank reduced the reserve ratio by .5% and $115bln of liquidity into the banking system. However, escalating tensions between the US and Iran caused the risk-on sentiment to fade. A US airstrike in Baghdad killed a top Iranian commander and the country threatened “severe retaliation”. The S&P 500 is currently down .77% and 10-year Treasury yields are 5bps lower. West Texas oil rallied on the news reaching +5% at one point overnight. This morning the focus will shift to the release of the ISM manufacturing data and FOMC Meeting minutes.

Chris Eckhoff
Associate, Investment Management Group

Date Event Survey Actual Prior Revised
12/30/2019 Advance Goods Trade Balance -$68.7b -$63.2b -$66.5b -$66.8b
12/30/2019 Retail Inventories MoM 0.10% -0.70% 0.30% 0.10%
12/30/2019 Wholesale Inventories MoM 0.20% 0.00% 0.10% 0.00%
12/30/2019 MNI Chicago PMI 47.9 48.9 46.3
12/30/2019 Pending Home Sales MoM 1.40% 1.20% -1.70% -1.30%
12/30/2019 Pending Home Sales NSA YoY 7.40% 5.60% 3.90% 4.40%
12/30/2019 Dallas Fed Manf. Activity 0 -3.2 -1.3
12/31/2019 FHFA House Price Index MoM 0.40% 0.20% 0.60% 0.70%
12/31/2019 S&P CoreLogic CS 20-City MoM SA 0.30% 0.43% 0.36% 0.35%
12/31/2019 S&P CoreLogic CS 20-City YoY NSA 2.10% 2.23% 2.10% 2.08%
12/31/2019 S&P CoreLogic CS 20-City NSA Index 218.29 218.43 218.27 218.24
12/31/2019 S&P CoreLogic CS US HPI YoY NSA 3.34% 3.22% 3.23%
12/31/2019 S&P CoreLogic CS US HPI NSA Index 212.43 212.2 212.21
12/31/2019 Conf. Board Consumer Confidence 128.5 126.5 125.5 126.8
12/31/2019 Conf. Board Present Situation 170 166.9 166.6
12/31/2019 Conf. Board Expectations 97.4 97.9 100.3
1/2/2020 Challenger Job Cuts YoY -25.20% -16.00%
1/2/2020 Initial Jobless Claims 220k 222k 222k 224k
1/2/2020 Continuing Claims 1680k 1728k 1719k 1723k
1/2/2020 Bloomberg Consumer Comfort 63.9 62.3
1/2/2020 Markit US Manufacturing PMI 52.5 52.4 52.5
1/3/2020 Construction Spending MoM 0.40% -0.80%
1/3/2020 ISM Manufacturing 49 48.1
1/3/2020 ISM New Orders 47.2
1/3/2020 ISM Prices Paid 47.8 46.7
1/3/2020 ISM Employment 46.6
1/3/2020 FOMC Meeting Minutes
1/3/2020 Wards Total Vehicle Sales 17.00m 17.09m

 

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