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

DateEventSurveyActualPriorRevised
12/30/2019Advance Goods Trade Balance-$68.7b-$63.2b-$66.5b-$66.8b
12/30/2019Retail Inventories MoM0.10%-0.70%0.30%0.10%
12/30/2019Wholesale Inventories MoM0.20%0.00%0.10%0.00%
12/30/2019MNI Chicago PMI47.948.946.3—
12/30/2019Pending Home Sales MoM1.40%1.20%-1.70%-1.30%
12/30/2019Pending Home Sales NSA YoY7.40%5.60%3.90%4.40%
12/30/2019Dallas Fed Manf. Activity0-3.2-1.3—
12/31/2019FHFA House Price Index MoM0.40%0.20%0.60%0.70%
12/31/2019S&P CoreLogic CS 20-City MoM SA0.30%0.43%0.36%0.35%
12/31/2019S&P CoreLogic CS 20-City YoY NSA2.10%2.23%2.10%2.08%
12/31/2019S&P CoreLogic CS 20-City NSA Index218.29218.43218.27218.24
12/31/2019S&P CoreLogic CS US HPI YoY NSA—3.34%3.22%3.23%
12/31/2019S&P CoreLogic CS US HPI NSA Index—212.43212.2212.21
12/31/2019Conf. Board Consumer Confidence128.5126.5125.5126.8
12/31/2019Conf. Board Present Situation—170166.9166.6
12/31/2019Conf. Board Expectations—97.497.9100.3
1/2/2020Challenger Job Cuts YoY—-25.20%-16.00%—
1/2/2020Initial Jobless Claims220k222k222k224k
1/2/2020Continuing Claims1680k1728k1719k1723k
1/2/2020Bloomberg Consumer Comfort—63.962.3—
1/2/2020Markit US Manufacturing PMI52.552.452.5—
1/3/2020Construction Spending MoM0.40%—-0.80%—
1/3/2020ISM Manufacturing49—48.1—
1/3/2020ISM New Orders——47.2—
1/3/2020ISM Prices Paid47.8—46.7—
1/3/2020ISM Employment——46.6—
1/3/2020FOMC Meeting Minutes————
1/3/2020Wards Total Vehicle Sales17.00m—17.09m—

 

Subscribe Today!

Subscribe to our email list and get the latest articles and announcements from ALM First.

Subscribe

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.