July 29, 2019 Headlines

US and European equities are higher this morning alongside US Treasuries in what was a quiet trading session leading up to the FOMC decision on Wednesday. While the central bank has already hinted at easing policy at the upcoming meeting, the press conference will provide an opportunity to gauge the future monetary policy trajectory. In addition, global trade has shifted back into the spotlight with the US and China set to gather Tuesday for two days of talks for the first time in three months since negotiations broke down. President Trump has also threatened to levy tariffs on French wine in response to a digital tax placed on American technology companies.

Chris Eckhoff
Associate, Investment Management Group

7/29/2019Dallas Fed Manf. Activity-5.5-12.1
7/30/2019Personal Income0.40%0.50%
7/30/2019Personal Spending0.30%0.40%
7/30/2019Real Personal Spending0.20%0.20%
7/30/2019PCE Deflator MoM0.10%0.20%
7/30/2019PCE Deflator YoY1.50%1.50%
7/30/2019PCE Core Deflator MoM0.20%0.20%
7/30/2019PCE Core Deflator YoY1.70%1.60%
7/30/2019S&P CoreLogic CS 20-City MoM SA0.20%0.00%
7/30/2019S&P CoreLogic CS 20-City YoY NSA2.40%2.54%
7/30/2019S&P CoreLogic CS 20-City NSA Index215.68
7/30/2019S&P CoreLogic CS US HPI YoY NSA3.54%
7/30/2019S&P CoreLogic CS US HPI NSA Index207.97
7/30/2019Pending Home Sales MoM0.50%1.10%
7/30/2019Pending Home Sales NSA YoY0.40%-0.80%
7/30/2019Conf. Board Consumer Confidence125121.5
7/30/2019Conf. Board Present Situation162.6
7/30/2019Conf. Board Expectations94.1
7/31/2019MBA Mortgage Applications-1.90%
7/31/2019ADP Employment Change150k102k
7/31/2019Employment Cost Index0.70%0.70%
7/31/2019MNI Chicago PMI51.249.7
7/31/2019FOMC Rate Decision (Upper Bound)2.25%2.50%
7/31/2019FOMC Rate Decision (Lower Bound)2.00%2.25%
7/31/2019Interest Rate on Excess Reserves2.10%2.35%
8/1/2019Challenger Job Cuts YoY12.80%
8/1/2019Initial Jobless Claims214k206k
8/1/2019Continuing Claims1680k1676k
8/1/2019Bloomberg Consumer Comfort63.7
8/1/2019Markit US Manufacturing PMI5050
8/1/2019ISM Manufacturing5251.7
8/1/2019ISM Employment54.5
8/1/2019ISM Prices Paid49.147.9
8/1/2019ISM New Orders50
8/1/2019Construction Spending MoM0.30%-0.80%
8/1/2019Wards Total Vehicle Sales16.90m17.30m
8/2/2019Change in Nonfarm Payrolls166k224k
8/2/2019Two-Month Payroll Net Revision
8/2/2019Change in Private Payrolls166k191k
8/2/2019Change in Manufact. Payrolls5k17k
8/2/2019Unemployment Rate3.70%3.70%
8/2/2019Average Hourly Earnings MoM0.20%0.20%
8/2/2019Average Hourly Earnings YoY3.10%3.10%
8/2/2019Average Weekly Hours All Employees34.434.4
8/2/2019Labor Force Participation Rate62.90%
8/2/2019Underemployment Rate7.20%
8/2/2019Trade Balance-$54.6b-$55.5b
8/2/2019Factory Orders0.70%-0.70%
8/2/2019Factory Orders Ex Trans0.10%
8/2/2019Durable Goods Orders2.00%
8/2/2019Durables Ex Transportation1.20%
8/2/2019Cap Goods Orders Nondef Ex Air1.90%
8/2/2019Cap Goods Ship Nondef Ex Air0.60%
8/2/2019U. of Mich. Sentiment98.598.4
8/2/2019U. of Mich. Current Conditions111.1
8/2/2019U. of Mich. Expectations90.1
8/2/2019U. of Mich. 1 Yr Inflation2.60%
8/2/2019U. of Mich. 5-10 Yr Inflation2.60%











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