January 6, 2021 Headlines

US Treasuries bear steepened overnight as Democrats look to flip both seats in Georgia’s second Senate runoff. The Associated Press has already called the first race for Democrat Raphael Warnock while the second seat remains too close to call. If Democrats win both Senate seats, the party would gain majority control in Congress. Small-cap stocks in the Russell 2000 are up +1.69% ahead of the open in anticipation of additional fiscal stimulus whereas the technology driven NASDAQ is down -1.56% on fears of stricter regulations.

Chris Eckhoff
Associate, Investment Management Group

Date Event Surv(M) Actual Prior Revised
01/04/21 Markit US Manufacturing PMI 56.3 57.1 56.5
01/04/21 Construction Spending MoM 1.00% 0.90% 1.30% 1.60%
01/05/21 ISM Manufacturing 56.8 60.7 57.5
01/05/21 ISM New Orders 67.9 65.1
01/05/21 ISM Prices Paid 66 77.6 65.4
01/05/21 ISM Employment 51.5 48.4
01/05/21 Wards Total Vehicle Sales 15.80m 16.27m 15.55m
01/06/21 MBA Mortgage Applications 1.70% -5.80%
01/06/21 ADP Employment Change 75k -123k 307k 304k
01/06/21 Markit US Services PMI 55.2 55.3
01/06/21 Markit US Composite PMI 55.7
01/06/21 Factory Orders 0.70% 1.00%
01/06/21 Factory Orders Ex Trans 1.00%
01/06/21 Durable Goods Orders 0.90% 0.90%
01/06/21 Durables Ex Transportation 0.40% 0.40%
01/06/21 Cap Goods Orders Nondef Ex Air 0.40%
01/06/21 Cap Goods Ship Nondef Ex Air 0.40%
01/06/21 FOMC Meeting Minutes
01/07/21 Challenger Job Cuts YoY 45.40%
01/07/21 Initial Jobless Claims 803k 787k
01/07/21 Continuing Claims 5200k 5219k
01/07/21 Trade Balance -$67.3b -$63.1b
01/07/21 Bloomberg Consumer Comfort 44.6
01/07/21 ISM Services Index 54.5 55.9
01/08/21 Revisions: Household Survey data
01/08/21 Two-Month Payroll Net Revision
01/08/21 Change in Nonfarm Payrolls 73k 245k
01/08/21 Change in Private Payrolls 50k 344k
01/08/21 Change in Manufact. Payrolls 18k 27k
01/08/21 Unemployment Rate 6.80% 6.70%
01/08/21 Average Hourly Earnings MoM 0.20% 0.30%
01/08/21 Average Hourly Earnings YoY 4.50% 4.40%
01/08/21 Average Weekly Hours All Employees 34.8 34.8
01/08/21 Labor Force Participation Rate 61.50% 61.50%
01/08/21 Underemployment Rate 12.00%
01/08/21 Wholesale Trade Sales MoM 1.80%
01/08/21 Wholesale Inventories MoM -0.10% -0.10%
01/08/21 Consumer Credit $9.000b $7.228b

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