Risk markets have started off the latter half of 2018 in the red with equities and commodities lower this morning following increased trade war concerns as well as fears surrounding the political situations in Europe. China’s reciprocating tariffs of 25% on U.S manufactured vehicles will have a negative impact for not only American manufacturers but German companies, like BMW and Mercedes Benz, who produce several of their models with in the US. In Europe, specifically in Germany, migration negotiations threaten to end Chancellor Merkel’s ruling parliamentary majority, which have essentially governed the nation since the end of the Second World War; given that Germany is the largest economy within in the European Union, uncertainty around their government was destined to spook the markets. On a housekeeping note, the market will be closing early tomorrow at 2 P.M EDT in observance of Independence Day on Wednesday.
Hafizan Hamzah
Director, Investment Management Group
| Date Time | Event | Survey | Actual | Prior | Revised |
| 07/02/2018 | Markit US Manufacturing PMI | 54.6 | — | 54.6 | — |
| 07/02/2018 | Construction Spending MoM | 0.50% | — | 1.80% | — |
| 07/02/2018 | ISM Manufacturing | 58.5 | — | 58.7 | — |
| 07/02/2018 | ISM Employment | — | — | 56.3 | — |
| 07/02/2018 | ISM Prices Paid | 75 | — | 79.5 | — |
| 07/02/2018 | ISM New Orders | — | — | 63.7 | — |
| 07/02/2018 | Revisions: Construction Spending | ||||
| 07/03/2018 | Factory Orders | 0.00% | — | -0.80% | — |
| 07/03/2018 | Factory Orders Ex Trans | — | — | 0.40% | — |
| 07/03/2018 | Durable Goods Orders | -0.50% | — | -0.60% | — |
| 07/03/2018 | Durables Ex Transportation | — | — | -0.30% | — |
| 07/03/2018 | Cap Goods Orders Nondef Ex Air | — | — | -0.20% | — |
| 07/03/2018 | Cap Goods Ship Nondef Ex Air | — | — | -0.10% | — |
| 07/03/2018 | Wards Total Vehicle Sales | 17.00m | — | 16.81m | — |
| 07/04/2018 | MBA Mortgage Applications | — | — | -4.90% | — |
| 07/05/2018 | Challenger Job Cuts YoY | — | — | -4.80% | — |
| 07/05/2018 | ADP Employment Change | 190k | — | 178k | — |
| 07/05/2018 | Initial Jobless Claims | 225k | — | 227k | — |
| 07/05/2018 | Continuing Claims | 1718k | — | 1705k | — |
| 07/05/2018 | Bloomberg Consumer Comfort | — | — | 57.3 | — |
| 07/05/2018 | Markit US Services PMI | 56.5 | — | 56.5 | — |
| 07/05/2018 | Markit US Composite PMI | — | — | 56 | — |
| 07/05/2018 | ISM Non-Manf. Composite | 58.3 | — | 58.6 | — |
| 07/05/2018 | FOMC Meeting Minutes | — | — | — | — |
| 07/06/2018 | Trade Balance | -$43.6b | — | -$46.2b | — |
| 07/06/2018 | Change in Nonfarm Payrolls | 195k | — | 223k | — |
| 07/06/2018 | Two-Month Payroll Net Revision | — | — | 15k | — |
| 07/06/2018 | Change in Private Payrolls | 190k | — | 218k | — |
| 07/06/2018 | Change in Manufact. Payrolls | 15k | — | 18k | — |
| 07/06/2018 | Unemployment Rate | 3.80% | — | 3.80% | — |
| 07/06/2018 | Underemployment Rate | — | — | 7.60% | — |
| 07/06/2018 | Average Hourly Earnings MoM | 0.30% | — | 0.30% | — |
| 07/06/2018 | Average Hourly Earnings YoY | 2.80% | — | 2.70% | — |
| 07/06/2018 | Average Weekly Hours All Employees | 34.5 | — | 34.5 | — |
| 07/06/2018 | Labor Force Participation Rate | 62.70% | — | 62.70% | — |
| 07/09/2018 | Consumer Credit | $12.000b | — | $9.262b | — |