October 30, 2020 Headlines

Negative Covid headlines and disappointing earnings from the technology giants (AAPL, FB, GOOGL, TWTR) stoked a risk-off tone overnight. S&P 500 futures declined 75 points at the lows but have since stabilized ahead of the New York open down only 0.85% (28 points). US Treasuries relinquished overnight gains and are unchanged with the 10-year yield at .82%. European Q3 GDP releases were overshadowed as France, Germany, and Italy all posted better than expected results. The combined Eurozone Q3 GDP advanced reading was +12.7% QoQ and -4.3% YoY.

Chris Eckhoff
Associate, Investment Management Group

10/26/20Chicago Fed Nat Activity Index0.730.270.791.11
10/26/20New Home Sales1025k959k1011k994k
10/26/20New Home Sales MoM1.40%-3.50%4.80%3.00%
10/26/20Dallas Fed Manf. Activity13.519.813.6
10/27/20Durable Goods Orders0.50%1.90%0.50%0.40%
10/27/20Durables Ex Transportation0.40%0.80%0.60%1.00%
10/27/20Cap Goods Orders Nondef Ex Air0.50%1.00%1.90%2.10%
10/27/20Cap Goods Ship Nondef Ex Air0.40%0.30%1.50%
10/27/20FHFA House Price Index MoM0.70%1.50%1.00%1.10%
10/27/20S&P CoreLogic CS 20-City MoM SA0.50%0.47%0.55%0.75%
10/27/20S&P CoreLogic CS 20-City YoY NSA4.20%5.18%3.95%4.12%
10/27/20S&P CoreLogic CS 20-City NSA Index229.35226.55226.92
10/27/20S&P CoreLogic CS US HPI YoY NSA5.71%4.78%4.78%
10/27/20S&P CoreLogic CS US HPI NSA Index223.97221.64221.63
10/27/20Conf. Board Consumer Confidence102100.9101.8101.3
10/27/20Conf. Board Present Situation104.698.598.9
10/27/20Conf. Board Expectations98.4104102.9
10/27/20Richmond Fed Manufact. Index182921
10/28/20MBA Mortgage Applications1.70%-0.60%
10/28/20Advance Goods Trade Balance-$84.5b-$79.4b-$82.9b-$83.1b
10/28/20Wholesale Inventories MoM0.40%-0.10%0.40%0.30%
10/28/20Retail Inventories MoM0.50%1.60%0.80%0.50%
10/29/20Initial Jobless Claims770k751k787k791k
10/29/20Continuing Claims7775k7756k8373k8465k
10/29/20GDP Annualized QoQ32.00%33.10%-31.40%
10/29/20Personal Consumption38.90%40.70%-33.20%
10/29/20GDP Price Index2.90%3.60%-1.80%
10/29/20Core PCE QoQ4.00%3.50%-0.80%
10/29/20Bloomberg Consumer Comfort46.346.6
10/29/20Pending Home Sales MoM2.70%-2.20%8.80%
10/29/20Pending Home Sales NSA YoY23.00%21.90%20.50%20.60%
10/30/20Personal Income0.40%0.90%-2.70%-2.50%
10/30/20Personal Spending1.00%1.40%1.00%
10/30/20Real Personal Spending0.80%1.20%0.70%
10/30/20PCE Deflator MoM0.20%0.20%0.30%
10/30/20PCE Deflator YoY1.50%1.40%1.40%1.30%
10/30/20PCE Core Deflator MoM0.20%0.20%0.30%
10/30/20PCE Core Deflator YoY1.70%1.50%1.60%1.40%
10/30/20Employment Cost Index0.50%0.50%0.50%
10/30/20MNI Chicago PMI5862.4
10/30/20U. of Mich. Sentiment81.281.2
10/30/20U. of Mich. Current Conditions84.984.9
10/30/20U. of Mich. Expectations78.878.8
10/30/20U. of Mich. 1 Yr Inflation2.70%
10/30/20U. of Mich. 5-10 Yr Inflation2.40%


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.