September 28, 2020 Headlines

Rates are essentially unchanged this morning while equity futures point to a higher open as attractive valuations brought investors to the table. The economic calendar is light today, with the only release on the docket the Dallas Fed Manufacturing Outlook. Later today, Cleveland Fed President will speak on economic equality at 2 PM Eastern. Additionally, since today is the last day of the current Fed Operations schedule, a new one will be announced today at 3 PM Eastern.

Hafizan Hamzah
Director, Investment Management Group

Date Event Survey Actual Prior Revised
9/28/20 Dallas Fed Manf. Activity 9.5 8
9/29/20 Advance Goods Trade Balance -$81.7b -$79.3b
9/29/20 Wholesale Inventories MoM -0.10% -0.30%
9/29/20 Retail Inventories MoM 1.10% 1.20%
9/29/20 S&P CoreLogic CS 20-City MoM SA 0.10% 0.00%
9/29/20 S&P CoreLogic CS 20-City YoY NSA 3.60% 3.46%
9/29/20 S&P CoreLogic CS 20-City NSA Index 225.13
9/29/20 S&P CoreLogic CS US HPI YoY NSA 4.29%
9/29/20 S&P CoreLogic CS US HPI NSA Index 219.82
9/29/20 Conf. Board Consumer Confidence 90 84.8
9/29/20 Conf. Board Present Situation 84.2
9/29/20 Conf. Board Expectations 85.2
9/30/20 MBA Mortgage Applications 6.80%
9/30/20 ADP Employment Change 648k 428k
9/30/20 GDP Annualized QoQ -31.70% -31.70%
9/30/20 Personal Consumption -34.10% -34.10%
9/30/20 GDP Price Index -2.00% -2.00%
9/30/20 Core PCE QoQ -1.00% -1.00%
9/30/20 MNI Chicago PMI 52 51.2
9/30/20 Pending Home Sales MoM 3.00% 5.90%
9/30/20 Pending Home Sales NSA YoY 15.40%
10/1/20 Challenger Job Cuts YoY 116.50%
10/1/20 Initial Jobless Claims 850k 870k
10/1/20 Continuing Claims 12200k 12580k
10/1/20 Personal Income -2.50% 0.40%
10/1/20 Personal Spending 0.80% 1.90%
10/1/20 Real Personal Spending 0.50% 1.60%
10/1/20 PCE Deflator MoM 0.30% 0.30%
10/1/20 PCE Deflator YoY 1.20% 1.00%
10/1/20 PCE Core Deflator MoM 0.30% 0.30%
10/1/20 PCE Core Deflator YoY 1.40% 1.30%
10/1/20 Bloomberg Consumer Comfort 49.8
10/1/20 Markit US Manufacturing PMI 53.5 53.5
10/1/20 Construction Spending MoM 0.70% 0.10%
10/1/20 ISM Manufacturing 56.2 56
10/1/20 ISM New Orders 67.6
10/1/20 ISM Prices Paid 58.6 59.5
10/1/20 ISM Employment 46.4
10/1/20 Wards Total Vehicle Sales 15.60m 15.19m
10/2/20 Change in Nonfarm Payrolls 850k 1371k
10/2/20 Two-Month Payroll Net Revision -39k
10/2/20 Change in Private Payrolls 875k 1027k
10/2/20 Change in Manufact. Payrolls 35k 29k
10/2/20 Unemployment Rate 8.20% 8.40%
10/2/20 Average Hourly Earnings MoM 0.20% 0.40%
10/2/20 Average Hourly Earnings YoY 4.80% 4.70%
10/2/20 Average Weekly Hours All Employees 34.6 34.6
10/2/20 Labor Force Participation Rate 61.90% 61.70%
10/2/20 Underemployment Rate 14.20%
10/2/20 U. of Mich. Sentiment 78.9 78.9
10/2/20 Factory Orders 1.00% 6.40%
10/2/20 U. of Mich. Current Conditions 87.5
10/2/20 Factory Orders Ex Trans 1.10% 2.10%
10/2/20 U. of Mich. Expectations 73.3
10/2/20 Durable Goods Orders 0.40% 0.40%
10/2/20 U. of Mich. 1 Yr Inflation 2.70%
10/2/20 Durables Ex Transportation 0.40% 0.40%
10/2/20 U. of Mich. 5-10 Yr Inflation 2.60%
10/2/20 Cap Goods Orders Nondef Ex Air 1.70% 1.80%
10/2/20 Cap Goods Ship Nondef Ex Air 1.50%


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