May 20, 2019 Headlines

Treasuries are little changed this morning while equity futures are down in response to US tech companies cutting off shipments to Huawei. Tech giants such as Google and Qualcomm have halted shipments to the Chinese smartphone maker after the Trump administration blacklisted the company for espionage. These moves are likely to exacerbate the ongoing trade war between the US and China.

Later today, three Fed speakers, including Chairman Powell, will give their thoughts on the economy. The market will paying attention to see if any the speakers will discuss any impacts that the trade war has had on the economy.

Hafizan Hamzah
Director, Investment Management Group

Date	Event	Survey	Actual	Prior	Revised
5/20/2019	Chicago Fed Nat Activity Index	-0.2	-0.45	-0.15	0.05
5/21/2019	Existing Home Sales	5.35m	—	5.21m	—
5/21/2019	Existing Home Sales MoM	2.70%	—	-4.90%	—
5/22/2019	MBA Mortgage Applications	—	—	-0.60%	—
5/22/2019	FOMC Meeting Minutes	—	—	—	—
5/23/2019	Initial Jobless Claims	215k	—	212k	—
5/23/2019	Continuing Claims	1669k	—	1660k	—
5/23/2019	Bloomberg Consumer Comfort	—	—	59.9	—
5/23/2019	Bloomberg Economic Expectations	—	—	50	—
5/23/2019	Markit US Manufacturing PMI	52.6	—	52.6	—
5/23/2019	Markit US Services PMI	53.5	—	53	—
5/23/2019	Markit US Composite PMI	—	—	53	—
5/23/2019	New Home Sales	671k	—	692k	—
5/23/2019	New Home Sales MoM	-3.00%	—	4.50%	—
5/23/2019	Kansas City Fed Manf. Activity	7	—	5	—
5/24/2019	Durable Goods Orders	-2.00%	—	2.60%	—
5/24/2019	Durables Ex Transportation	0.10%	—	0.30%	—
5/24/2019	Cap Goods Orders Nondef Ex Air	-0.30%	—	1.40%	—
5/24/2019	Cap Goods Ship Nondef Ex Air	-0.20%	—	0.00%	—

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