January 9, 2020 Headlines

Risk markets performed well overnight, and S&P 500 futures are up 0.35% ahead of the open. Treasuries fluctuated between positive and negative territory overnight on various headlines (Iran, US/China, etc.), and yields are now modestly higher versus yesterday’s close. On the trade front, China formally announced that Vice Premier Liu will be travelling to Washington next week to sign the phase one trade deal with the United States. President Trump’s address yesterday afternoon effectively de-escalated military hostilities with Iran, but he did pledge to tighten existing economic sanctions against the country. On a related note, the House of Representatives will be voting today on a resolution aimed at limiting the president’s options for military action.

Initial jobless claims for the weekend ended January 4 came in below expectations at 214,000, and tomorrow’s release of the December payrolls report is expected to show 164,000 jobs added on the month. Several Fed leaders will be speaking today, including John Williams (New York Fed) at a Bank of England event.

Jason Haley
Chief Investment Officer

1/6/2020Markit US Services PMI52.252.852.2
1/6/2020Markit US Composite PMI52.752.2
1/7/2020Trade Balance-$43.6b-$43.1b-$47.2b-$46.9b
1/7/2020ISM Non-Manufacturing Index54.55553.9
1/7/2020Factory Orders-0.80%-0.70%0.30%0.20%
1/7/2020Factory Orders Ex Trans0.30%0.20%0.30%
1/7/2020Durable Goods Orders-2.00%-2.10%-2.00%
1/7/2020Durables Ex Transportation-0.10%0.00%
1/7/2020Cap Goods Orders Nondef Ex Air0.20%0.10%
1/7/2020Cap Goods Ship Nondef Ex Air-0.30%-0.30%
1/8/2020MBA Mortgage Applications13.50%-13.20%
1/8/2020ADP Employment Change160k202k67k124k
1/8/2020Consumer Credit$16.000b$12.513b$18.908b$18.976b
1/9/2020Revisions: Philadelphia Fed Manufacturing Index
1/9/2020Initial Jobless Claims220k214k222k223k
1/9/2020Continuing Claims1720k1803k1728k
1/9/2020Bloomberg Consumer Comfort63.9
1/10/2020Revisions: Household Survey Data
1/10/2020Change in Nonfarm Payrolls160k266k
1/10/2020Two-Month Payroll Net Revision41k
1/10/2020Change in Private Payrolls153k254k
1/10/2020Change in Manufact. Payrolls5k54k
1/10/2020Unemployment Rate3.50%3.50%
1/10/2020Average Hourly Earnings MoM0.30%0.20%
1/10/2020Average Hourly Earnings YoY3.10%3.10%
1/10/2020Average Weekly Hours All Employees34.434.4
1/10/2020Labor Force Participation Rate63.20%
1/10/2020Underemployment Rate6.90%
1/10/2020Bloomberg Jan. United States Economic Survey
1/10/2020Wholesale Inventories MoM0.00%0.00%
1/10/2020Wholesale Trade Sales MoM0.20%-0.70%






Subscribe Today!

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

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.