March 3, 2020 Headlines

Yesterday, during the New York trading session, news broke that the Group of Seven Finance Chiefs would hold a teleconference to discuss their response to the coronavirus. In anticipation, risk assets rallied with the S&P500 up 4.6% on the day. However, this morning, the S&P500 has reversed course and down 1% currently as the finance ministers concluded the meeting with no immediate stimulus planned to combat the economic impact from the virus. In the rates market, US Treasury yields are slightly lower with the curve slope essentially unchanged.

Chris Eckhoff
Associate, Investment Management Group

Date Event Survey Actual Prior Revised
3/2/2020 Markit US Manufacturing PMI 50.8 50.7 50.8
3/2/2020 Construction Spending MoM 0.60% 1.80% -0.20% 0.20%
3/2/2020 ISM Manufacturing 50.5 50.1 50.9
3/2/2020 ISM New Orders 51.8 49.8 52
3/2/2020 ISM Prices Paid 50.8 45.9 53.3
3/2/2020 ISM Employment 47.5 46.9 46.6
3/3/2020 FOMC Rate Decision (Upper Bound) 1.25% 1.75%
3/3/2020 FOMC Rate Decision (Lower Bound) 1.00% 1.50%
3/3/2020 Interest Rate on Excess Reserves 1.10% 1.60%
3/3/2020 Wards Total Vehicle Sales 16.80m 16.84m
3/4/2020 MBA Mortgage Applications 1.50%
3/4/2020 ADP Employment Change 170k 291k
3/4/2020 Markit US Services PMI 49.4 49.4
3/4/2020 Markit US Composite PMI 49.6
3/4/2020 ISM Non-Manufacturing Index 54.9 55.5
3/4/2020 U.S. Federal Reserve Releases Beige Book
3/5/2020 Challenger Job Cuts YoY 27.80%
3/5/2020 Nonfarm Productivity 1.30% 1.40%
3/5/2020 Unit Labor Costs 1.40% 1.40%
3/5/2020 Initial Jobless Claims 215k 219k
3/5/2020 Continuing Claims 1738k 1724k
3/5/2020 Bloomberg Consumer Comfort 63.5
3/5/2020 Factory Orders -0.10% 1.80%
3/5/2020 Factory Orders Ex Trans 0.60%
3/5/2020 Durable Goods Orders -0.20% -0.20%
3/5/2020 Durables Ex Transportation 0.90%
3/5/2020 Cap Goods Orders Nondef Ex Air 1.10%
3/5/2020 Cap Goods Ship Nondef Ex Air 1.10%
3/6/2020 Trade Balance -$46.1b -$48.9b
3/6/2020 Change in Nonfarm Payrolls 175k 225k
3/6/2020 Two-Month Payroll Net Revision 7k
3/6/2020 Change in Private Payrolls 160k 206k
3/6/2020 Change in Manufact. Payrolls -3k -12k
3/6/2020 Unemployment Rate 3.60% 3.60%
3/6/2020 Average Hourly Earnings MoM 0.30% 0.20%
3/6/2020 Average Hourly Earnings YoY 3.00% 3.10%
3/6/2020 Average Weekly Hours All Employees 34.3 34.3
3/6/2020 Labor Force Participation Rate 63.40% 63.40%
3/6/2020 Underemployment Rate 6.90%
3/6/2020 Wholesale Inventories MoM -0.20% -0.20%
3/6/2020 Wholesale Trade Sales MoM -0.70%
3/6/2020 Consumer Credit $16.750b $22.055b

 

Subscribe Today!

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

Recent Articles

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.