May 23, 2022 Headlines

A modest risk-on trade overnight has S&P 500 futures up more than 1% in early trading this morning. Treasury yields are unchanged to slightly lower out the curve in relatively light trading. With no economic data releases or Fed speakers today, it should be a less adventurous day for financial markets, at least relative to 2022 standards. Next week we will receive the minutes of the May 4 FOMC meeting on Wednesday, which should shine more light on the internal debate surrounding larger rate hikes (e.g., 75 bps) and general forward guidance, and April PCE data will be released next Friday.

Jason Haley
Chief Investment Officer

DateEventSurveyActualPriorRevised
5/23/2022Chicago Fed Nat Activity Index0.50.470.440.36
5/24/2022S&P Global US Manufacturing PMI57.859.2
5/24/2022S&P Global US Services PMI55.355.6
5/24/2022S&P Global US Composite PMI55.556
5/24/2022Richmond Fed Manufact. Index1014
5/24/2022New Home Sales750k763k
5/24/2022New Home Sales MoM-1.70%-8.60%
5/25/2022MBA Mortgage Applications-11.00%
5/25/2022Durable Goods Orders0.60%1.10%
5/25/2022Durables Ex Transportation0.60%1.40%
5/25/2022Cap Goods Orders Nondef Ex Air0.50%1.30%
5/25/2022Cap Goods Ship Nondef Ex Air0.50%0.40%
5/25/2022FOMC Meeting Minutes
5/26/2022GDP Annualized QoQ-1.30%-1.40%
5/26/2022Personal Consumption2.90%2.70%
5/26/2022GDP Price Index8.00%8.00%
5/26/2022Core PCE QoQ5.20%5.20%
5/26/2022Initial Jobless Claims210k218k
5/26/2022Continuing Claims1310k1317k
5/26/2022Pending Home Sales MoM-2.00%-1.20%
5/26/2022Pending Home Sales NSA YoY-8.90%
5/26/2022Kansas City Fed Manf. Activity1825
5/27/2022Advance Goods Trade Balance-$114.7b-$125.3b-$127.1b
5/27/2022Wholesale Inventories MoM1.90%2.30%
5/27/2022Personal Income0.50%0.50%
5/27/2022Personal Spending0.70%1.10%
5/27/2022Real Personal Spending0.70%0.20%
5/27/2022Retail Inventories MoM2.00%2.00%
5/27/2022PCE Deflator MoM0.20%0.90%
5/27/2022PCE Deflator YoY6.20%6.60%
5/27/2022PCE Core Deflator MoM0.30%0.30%
5/27/2022PCE Core Deflator YoY4.90%5.20%
5/27/2022U. of Mich. Sentiment59.159.1
5/27/2022U. of Mich. Current Conditions63.6
5/27/2022U. of Mich. Expectations56.3
5/27/2022U. of Mich. 1 Yr Inflation5.40%
5/27/2022U. of Mich. 5-10 Yr Inflation3.00%

 

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.