June 4, 2020 Headlines

S&P500 futures are down -.52% ahead of the open despite a steady decline in initial jobless and new German stimulus measures as the June equity rally has started to lose steam. Initially in the overnight session, US Treasuries yields moved higher but have since retreated with the 10-year yield at .782%. Jobless claims continue to show a decreasing pace of job losses with 1.877 million applications filed last week. However, continuing claims increased to 21.5 million largely due to filing rules in California but suggests re-hiring has been slow even as more states remove quarantine restrictions.

Chris Eckhoff
Associate, Investment Management Group

Date Event Survey Actual Prior Revised
6/1/2020 Markit US Manufacturing PMI 40 39.8 39.8
6/1/2020 Construction Spending MoM -7.00% -2.90% 0.90% 0.00%
6/1/2020 ISM Manufacturing 43.8 43.1 41.5
6/1/2020 ISM New Orders 31.8 27.1
6/1/2020 ISM Prices Paid 40 40.8 35.3
6/1/2020 ISM Employment 32.1 27.5
6/2/2020 Wards Total Vehicle Sales 11.10m 12.21m 8.58m
6/3/2020 MBA Mortgage Applications -3.90% 2.70%
6/3/2020 ADP Employment Change -9000k -2760k -20236k -19557k
6/3/2020 Markit US Services PMI 37.3 37.5 36.9
6/3/2020 Markit US Composite PMI 37 36.4
6/3/2020 ISM Non-Manufacturing Index 44.4 45.4 41.8
6/3/2020 Factory Orders -13.40% -13.00% -10.30% -11.00%
6/3/2020 Factory Orders Ex Trans -8.50% -3.70% -4.00%
6/3/2020 Durable Goods Orders -17.20% -17.70% -17.20%
6/3/2020 Durables Ex Transportation -7.40% -7.70% -7.40%
6/3/2020 Cap Goods Orders Nondef Ex Air -5.80% -6.10% -5.80%
6/3/2020 Cap Goods Ship Nondef Ex Air -5.70% -5.40%
6/4/2020 Challenger Job Cuts YoY 577.80% 1576.90%
6/4/2020 Revisions: U.S. International Trade
6/4/2020 Trade Balance -$49.4b -$49.4b -$44.4b -$42.3b
6/4/2020 Nonfarm Productivity -2.70% -0.90% -2.50%
6/4/2020 Unit Labor Costs 5.00% 5.10% 4.80%
6/4/2020 Initial Jobless Claims 1833k 1877k 2123k 2126k
6/4/2020 Continuing Claims 20000k 21487k 21052k 20838k
6/4/2020 Bloomberg Consumer Comfort 37 35.5
6/5/2020 Change in Nonfarm Payrolls -8000k -20537k
6/5/2020 Average Weekly Hours All Employees 34.3 34.2
6/5/2020 Change in Private Payrolls -7250k -19557k
6/5/2020 Two-Month Payroll Net Revision
6/5/2020 Change in Manufact. Payrolls -400k -1330k
6/5/2020 Unemployment Rate 19.50% 14.70%
6/5/2020 Average Hourly Earnings MoM 1.00% 4.70%
6/5/2020 Average Hourly Earnings YoY 8.50% 7.90%
6/5/2020 Labor Force Participation Rate 60.00% 60.20%
6/5/2020 Underemployment Rate 22.80%
6/5/2020 Consumer Credit -$20.000b -$12.044b



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