July 28, 2020 Headlines

Treasury yields are drifting higher this morning as gold and silver prices retreat from new record highs overnight. S&P 500 futures are lower ahead of the open on worse-than-expected earnings from McDonalds, 3M, and Harley-Davidson. Senate Republicans have now submitted a $1 trillion proposal for fresh COVID-related fiscal support. The package would reduce the federal unemployment subsidy from $600/week to $200/week, but it does include another $1,200 check to many U.S. households. This sets the stage for an earnest debate with Democrat leaders, who have been looking for something closer to $3 trillion of new aid.

Jason Haley
Chief Investment Officer

Date	Event	Survey	Actual	Prior	Revised
7/27/20	Durable Goods Orders	6.90%	7.30%	15.70%	15.10%
7/27/20	Durables Ex Transportation	3.60%	3.30%	3.70%	3.60%
7/27/20	Cap Goods Orders Nondef Ex Air	2.20%	3.30%	1.60%	—
7/27/20	Cap Goods Ship Nondef Ex Air	2.40%	3.40%	1.50%	1.60%
7/27/20	Dallas Fed Manf. Activity	-4.8	-3	-6.1	—
7/28/20	S&P CoreLogic CS 20-City MoM SA	0.30%	0.04%	0.33%	0.24%
7/28/20	S&P CoreLogic CS 20-City YoY NSA	4.00%	3.69%	3.98%	3.91%
7/28/20	S&P CoreLogic CS 20-City NSA Index	224.73	224.8	224.08	223.92
7/28/20	S&P CoreLogic CS US HPI YoY NSA	—	4.46%	4.73%	4.61%
7/28/20	S&P CoreLogic CS US HPI NSA Index	—	218.9	217.72	217.45
7/28/20	Conf. Board Consumer Confidence	95	—	98.1	—
7/28/20	Conf. Board Present Situation	—	—	86.2	—
7/28/20	Conf. Board Expectations	—	—	106	—
7/28/20	Richmond Fed Manufact. Index	5	—	0	—
7/29/20	MBA Mortgage Applications	—	—	4.10%	—
7/29/20	Advance Goods Trade Balance	-$75.4b	—	-$74.3b	—
7/29/20	Wholesale Inventories MoM	-0.50%	—	-1.20%	—
7/29/20	Retail Inventories MoM	-2.70%	—	-6.10%	—
7/29/20	Pending Home Sales MoM	15.00%	—	44.30%	—
7/29/20	Pending Home Sales NSA YoY	2.20%	—	-10.40%	—
7/29/20	FOMC Rate Decision (Upper Bound)	0.25%	—	0.25%	—
7/29/20	FOMC Rate Decision (Lower Bound)	0.00%	—	0.00%	—
7/29/20	Interest Rate on Excess Reserves	0.10%	—	0.10%	—
7/30/20	Revisions: GDP
7/30/20	GDP Annualized QoQ	-34.80%	—	-5.00%	—
7/30/20	Personal Consumption	-34.50%	—	-6.80%	—
7/30/20	GDP Price Index	0.00%	—	1.40%	—
7/30/20	Core PCE QoQ	-0.90%	—	1.70%	—
7/30/20	Initial Jobless Claims	1430k	—	1416k	—
7/30/20	Continuing Claims	16250k	—	16197k	—
7/30/20	Bloomberg Consumer Comfort	—	—	44.7	—
7/31/20	Personal Income	-0.70%	—	-4.20%	—
7/31/20	Personal Spending	5.20%	—	8.20%	—
7/31/20	Real Personal Spending	5.00%	—	8.10%	—
7/31/20	PCE Deflator MoM	0.40%	—	0.10%	—
7/31/20	PCE Deflator YoY	0.90%	—	0.50%	—
7/31/20	PCE Core Deflator MoM	0.20%	—	0.10%	—
7/31/20	PCE Core Deflator YoY	1.00%	—	1.00%	—
7/31/20	Employment Cost Index	0.60%	—	0.80%	—
7/31/20	MNI Chicago PMI	44	—	36.6	—
7/31/20	U. of Mich. Sentiment	72.8	—	73.2	—
7/31/20	U. of Mich. Current Conditions	—	—	84.2	—
7/31/20	U. of Mich. Expectations	—	—	66.2	—
7/31/20	U. of Mich. 1 Yr Inflation	—	—	3.10%	—
7/31/20	U. of Mich. 5-10 Yr Inflation	—	—	2.70%	—

Subscribe Today!

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

Recent Articles

January 22, 2021 Headlines January 22, 2021
January 21, 2021 Headlines January 21, 2021
January 20, 2021 Headlines January 20, 2021

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.