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Author Hafizan Hamzah

Published

Estimated

Treasury yields are effectively unchanged this morning while equities are mixed.

Futures on both the Dow and S&P are up, +0.34% and 0.66% respectively, but the NASDAQ has given up its premarket gains and now sits at -0.05% ahead of the open. Despite the holiday-shortened week, there will be a slew of economic data released as the US works to clear the backlog from the government shutdown. We’ll see the Chicago Fed’s national activity index as well as the Dallas Fed’s manufacturing activity index today. Tomorrow will be a heavier day with retail sales, PPI, consumer confidence, pending home sales, among other releases.

The market will be closed on Thursday for Thanksgiving and will close early on Friday at 2 PM ET. Liquidity will likely be on the lighter side with people out for the holiday.

Hafizan Hamzah
Senior Director, Investment Management Group

DateEventSurv(M)ActualPriorRevised
11/24/2025List of US Economic Indicators Delayed by Government Shutdown    
11/24/2025Chicago Fed NAI Delayed by Government Shutdown    
11/24/2025Dallas Fed Manf. Activity-2     —-5     —
11/24/2025Fed Releases Annual Revision to Industrial Production    
11/24/2025-12/19/2025Housing Starts1329k     —1307k     —
11/24/2025-12/19/2025Advance Goods Trade Balance     —     —-$85.5b-$84.3b
11/24/2025-12/19/2025Advance Goods Exports MoM SA     —     —-1.30%-0.20%
11/24/2025-12/19/2025Advance Goods Imports MoM SA     —     —-7.00%-6.60%
11/24/2025-12/19/2025Building Permits1347k     —1330k     —
11/24/2025-12/19/2025Housing Starts MoM1.70%     —     —     —
11/24/2025-12/19/2025Building Permits MoM1.30%     —     —     —
11/24/2025-12/19/2025Retail Inventories MoM     —     —     —     —
11/24/2025-11/26/2025Federal Budget Balance-$230.0b     —-$257.4b     —
11/24/2025-12/19/2025New Home Sales     —     —     —     —
11/24/2025-12/19/2025New Home Sales MoM     —     —     —     —
11/25/2025Philadelphia Fed Non-Manufacturing Activity     —     —-22.2     —
11/25/2025Retail Sales Advance MoM0.40%     —0.60%     —
11/25/2025Retail Sales Ex Auto MoM0.30%     —     —     —
11/25/2025Retail Sales Ex Auto and Gas0.30%     —     —     —
11/25/2025Retail Sales Control Group0.30%     —     —     —
11/25/2025PPI Final Demand MoM0.30%     —-0.10%     —
11/25/2025PPI Ex Food and Energy MoM0.20%     —-0.10%     —
11/25/2025PPI Ex Food, Energy, Trade MoM0.20%     —0.30%     —
11/25/2025PPI Final Demand YoY2.60%     —2.60%     —
11/25/2025PPI Ex Food and Energy YoY2.70%     —2.80%     —
11/25/2025PPI Ex Food, Energy, Trade YoY     —     —2.80%     —
11/25/2025FHFA House Price Index MoM0.20%     —0.40%     —
11/25/2025House Price Purchase Index QoQ     —     —0.00%     —
11/25/2025S&P Cotality CS 20-City MoM SA0.10%     —0.19%     —
11/25/2025S&P Cotality CS 20-City YoY NSA1.40%     —1.58%     —
11/25/2025S&P Cotality CS US HPI YoY NSA     —     —1.51%     —
11/25/2025Business Inventories0.00%     —0.20%     —
11/25/2025Richmond Fed Manufact. Index-5     —-4     —
11/25/2025Richmond Fed Business Conditions     —     —-1     —
11/25/2025Conf. Board Consumer Confidence93.3     —94.6     —
11/25/2025Conf. Board Present Situation     —     —129.3     —
11/25/2025Conf. Board Expectations     —     —71.5     —
11/25/2025Pending Home Sales MoM0.50%     —0.00%     —
11/25/2025Pending Home Sales NSA YoY     —     —1.50%     —
11/25/2025Dallas Fed Services Activity     —     —-9.4     —
11/25/2025-11/28/2025Wholesale Inventories MoM     —     —0.00%     —
11/26/2025MBA Mortgage Applications     —     —-5.20%     —
11/26/2025Initial Jobless Claims225k     —220k     —
11/26/2025Initial Claims 4-Wk Moving Avg     —     —224.25k     —
11/26/2025Continuing Claims1965k     —1974k     —
11/26/2025Durable Goods Orders0.50%     —2.90%     —
11/26/2025Durables Ex Transportation0.20%     —0.30%     —
11/26/2025Cap Goods Ship Nondef Ex Air0.20%     —-0.40%     —
11/26/2025Cap Goods Orders Nondef Ex Air0.20%     —0.40%     —
11/26/2025MNI Chicago PMI44     —43.8     —
11/26/2025Fed Releases Beige Book    
11/26/2025-12/24/2025Leading Index     —     —     —     —

Hafizan Hamzah

Senior Director, Investment Management Group

LinkedIn

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