May 14, 2019 Headlines

The tone in risk markets is modestly improved today with no negative rhetoric in the headlines overnight. S&P 500 futures are up 0.6% ahead of the open, but Asian markets closed down on the day in a follow-through to yesterday’s weakness in U.S. markets. Treasury prices are unchanged to slightly lower on the day. President Trump still plans to meet with Chinese President Xi at the G20 summit next month, and Trump said he feels the talks will be “fruitful.” The NFIB Small Business Optimism Index rose nearly 2 points to 103.5 in April versus expectations of a 102 reading. The month-over-month improvement in sentiment was attributable to an increase in job creation plans, as well as heightened expectations for sales, business conditions, and credit conditions. Three Fed leaders will speak today, including New York Fed President John Williams at an IMF event in Zurich.

Jason Haley

Managing Director, Investment Management Group

DateEventSurveyActualPriorRevised
5/14/2019NFIB Small Business Optimism102103.5101.8
5/14/2019Import Price Index MoM0.70%0.20%0.60%
5/14/2019Import Price Index ex Petroleum MoM0.20%-0.60%0.20%
5/14/2019Import Price Index YoY0.30%-0.20%0.00%0.10%
5/14/2019Export Price Index MoM0.60%0.20%0.70%0.60%
5/14/2019Export Price Index YoY0.30%0.60%
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 Starts1209k1139k
5/16/2019Housing Starts MoM6.10%-0.30%
5/16/2019Building Permits1290k1269k1288k
5/16/2019Building Permits MoM0.20%-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%

 

Subscribe Today!

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

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.