September 24, 2019 Headlines

Overnight headlines displayed easing trade tensions between the US and China while economic indicators abroad reminded investors of slowing global growth. US Treasury Secretary Steven Mnuchin confirmed that the Chinese Vice Premier Liu He will be heading to Washington in October. Additionally, the Chinese government has given new waivers to purchase soybeans without being subject to retaliatory tariffs. In Germany, the Bundesbank’s monthly report highlights the struggling industrial sector which could result in GDP contracting for the 3rd quarter amid a positive outlook of private consumption and construction activity. There are no scheduled US economic releases until Thursday, however, Chicago Fed President Charles Evans will be speaking on the economic outlook and monetary policy on Wednesday.

Chris Eckhoff
Associate, Investment Management Group

9/23/2019Chicago Fed Nat Activity Index-0.030.1-0.36-0.41
9/23/2019Markit US Manufacturing PMI50.45150.3
9/23/2019Markit US Services PMI51.450.950.7
9/23/2019Markit US Composite PMI5150.7
9/24/2019FHFA House Price Index MoM0.30%0.40%0.20%
9/24/2019S&P CoreLogic CS 20-City MoM SA0.10%0.02%0.04%0.06%
9/24/2019S&P CoreLogic CS 20-City YoY NSA2.10%2.00%2.13%2.16%
9/24/2019S&P CoreLogic CS 20-City NSA Index218217.65217.72
9/24/2019S&P CoreLogic CS US HPI YoY NSA2.90%3.18%3.13%3.25%
9/24/2019S&P CoreLogic CS US HPI NSA Index211.7210.71210.9
9/24/2019Richmond Fed Manufact. Index1-91
9/24/2019Conf. Board Consumer Confidence133125.1135.1134.2
9/24/2019Conf. Board Present Situation169177.2
9/24/2019Conf. Board Expectations95.8107
9/25/2019MBA Mortgage Applications-0.10%
9/25/2019New Home Sales658k635k
9/25/2019New Home Sales MoM3.60%-12.80%
9/26/2019GDP Annualized QoQ2.00%2.00%
9/26/2019Personal Consumption4.70%4.70%
9/26/2019GDP Price Index2.40%2.40%
9/26/2019Core PCE QoQ1.70%1.70%
9/26/2019Advance Goods Trade Balance-$73.5b-$72.3b
9/26/2019Retail Inventories MoM0.10%0.80%0.80%
9/26/2019Wholesale Inventories MoM0.10%0.20%
9/26/2019Initial Jobless Claims212k208k
9/26/2019Continuing Claims1666k1661k
9/26/2019Bloomberg Consumer Comfort62.7
9/26/2019Pending Home Sales MoM1.00%-2.50%
9/26/2019Pending Home Sales NSA YoY1.30%1.70%
9/26/2019Kansas City Fed Manf. Activity-4-6
9/27/2019Personal Income0.40%0.10%
9/27/2019Durable Goods Orders-1.20%2.00%
9/27/2019Personal Spending0.30%0.60%
9/27/2019Durables Ex Transportation0.20%-0.40%
9/27/2019Real Personal Spending0.20%0.40%
9/27/2019Cap Goods Orders Nondef Ex Air0.00%0.20%
9/27/2019PCE Deflator MoM0.10%0.20%
9/27/2019Cap Goods Ship Nondef Ex Air0.30%-0.60%
9/27/2019PCE Deflator YoY1.40%1.40%
9/27/2019PCE Core Deflator MoM0.20%0.20%
9/27/2019PCE Core Deflator YoY1.80%1.60%
9/27/2019U. of Mich. Sentiment92.192
9/27/2019U. of Mich. Current Conditions106.9
9/27/2019U. of Mich. Expectations82.4
9/27/2019U. of Mich. 1 Yr Inflation2.80%
9/27/2019U. of Mich. 5-10 Yr Inflation2.30%









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