June 2, 2020 Headlines

Treasuries are selling off slightly this morning while US equity futures point to a higher open. The stock market has basically shrugged off the protests and continues to march higher on positive economic data as well as reports that China continues to purchase US farm products. The calendar is light this morning but picks back up tomorrow with Markit PMI, US factory orders, and the MBA’s mortgage applications reading.

Hafizan Hamzah
Director, Investment Management Group

DateEventSurveyActualPriorRevised
6/1/2020Markit US Manufacturing PMI4039.839.8
6/1/2020Construction Spending MoM-7.00%-2.90%0.90%0.00%
6/1/2020ISM Manufacturing43.843.141.5
6/1/2020ISM New Orders31.827.1
6/1/2020ISM Prices Paid4040.835.3
6/1/2020ISM Employment32.127.5
6/2/2020Wards Total Vehicle Sales11.10m8.58m
6/3/2020MBA Mortgage Applications2.70%
6/3/2020ADP Employment Change-9000k-20236k
6/3/2020Markit US Services PMI37.336.9
6/3/2020Markit US Composite PMI36.4
6/3/2020ISM Non-Manufacturing Index44.441.8
6/3/2020Factory Orders Ex Trans-3.70%-3.60%
6/3/2020Factory Orders-13.40%-10.30%-10.40%
6/3/2020Durable Goods Orders-17.20%-17.20%
6/3/2020Durables Ex Transportation-7.40%-7.40%
6/3/2020Cap Goods Orders Nondef Ex Air-5.80%-5.80%
6/3/2020Cap Goods Ship Nondef Ex Air-5.40%
6/4/2020Challenger Job Cuts YoY1576.90%
6/4/2020Trade Balance-$49.2b-$44.4b
6/4/2020Nonfarm Productivity-2.70%-2.50%
6/4/2020Unit Labor Costs5.00%4.80%
6/4/2020Initial Jobless Claims1812k2123k
6/4/2020Continuing Claims20050k21052k
6/4/2020Bloomberg Consumer Comfort35.5
6/5/2020Change in Nonfarm Payrolls-8000k-20537k
6/5/2020Average Weekly Hours All Employees34.334.2
6/5/2020Change in Private Payrolls-7500k-19557k
6/5/2020Two-Month Payroll Net Revision
6/5/2020Change in Manufact. Payrolls-400k-1330k
6/5/2020Unemployment Rate19.50%14.70%
6/5/2020Average Hourly Earnings MoM1.00%4.70%
6/5/2020Average Hourly Earnings YoY8.50%7.90%
6/5/2020Labor Force Participation Rate60.00%60.20%
6/5/2020Underemployment Rate22.80%
6/5/2020Consumer Credit-$20.000b-$12.044b

 

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