May 13, 2019 Headlines

More negative U.S./China headlines over the weekend are driving a risk-off trade in the global markets this morning. Treasury prices are higher across the curve, and all major equity indices are in the red today, including S&P 500 futures down 1.9%. Reuters reported that U.S./China talks have stalled, and China announced today that it will impose 25% tariffs on nearly 2,500 U.S. goods. In other news, oil prices are up 2% after Saudi Arabia said two of its oil tankers were attacked while sailing toward the Persian Gulf.  There are no data releases for today, and this week’s calendar is headlined by the April retail sales report on Wednesday. Several Fed leaders will be speaking this week, including Rosengren (Boston Fed) and Kaplan (Dallas Fed) today.

Jason Haley

Managing Director, Investment Management Group

Date TimeEventSurveyActualPriorRevised
5/14/2019NFIB Small Business Optimism102101.8
5/14/2019Import Price Index MoM0.70%0.60%
5/14/2019Import Price Index ex Petroleum MoM0.20%0.20%
5/14/2019Import Price Index YoY0.30%0.00%
5/14/2019Export Price Index MoM0.60%0.70%
5/14/2019Export Price Index YoY0.60%
5/14/2019Mortgage Delinquencies4.06%
5/14/2019MBA Mortgage Foreclosures0.95%
5/15/2019MBA Mortgage Applications2.70%
5/15/2019Empire Manufacturing810.1
5/15/2019Retail Sales Advance MoM0.20%1.60%
5/15/2019Retail Sales Ex Auto MoM0.70%1.20%
5/15/2019Retail Sales Ex Auto and Gas0.30%0.90%
5/15/2019Retail Sales Control Group0.30%1.00%
5/15/2019Industrial Production MoM0.00%-0.10%
5/15/2019Manufacturing (SIC) Production0.00%0.00%
5/15/2019Capacity Utilization78.70%78.80%
5/15/2019NAHB Housing Market Index6463
5/15/2019Business Inventories0.00%0.30%
5/15/2019Net Long-term TIC Flows$51.9b
5/15/2019Total Net TIC Flows-$21.6b
5/16/2019Revisions: Housing Starts & Building Permits
5/16/2019Housing Starts1208k1139k
5/16/2019Housing Starts MoM6.10%-0.30%
5/16/2019Building Permits1290k1269k1269k
5/16/2019Building Permits MoM1.70%-1.70%-0.20%
5/16/2019Philadelphia Fed Business Outlook98.5
5/16/2019Initial Jobless Claims220k228k
5/16/2019Continuing Claims1675k1684k
5/16/2019Bloomberg Consumer Comfort59.8
5/16/2019Bloomberg Economic Expectations50
5/16/2019Revisions: Manufacturers’ Shipments, Inventories, Orders
5/17/2019Leading Index0.20%0.40%
5/17/2019U. of Mich. Sentiment97.297.2
5/17/2019U. of Mich. Current Conditions112.3
5/17/2019U. of Mich. Expectations87.4
5/17/2019U. of Mich. 1 Yr Inflation2.50%
5/17/2019U. of Mich. 5-10 Yr Inflation2.30%

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