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

DateEventSurveyActualPriorRevised
9/28/20Dallas Fed Manf. Activity9.58
9/29/20Advance Goods Trade Balance-$81.7b-$79.3b
9/29/20Wholesale Inventories MoM-0.10%-0.30%
9/29/20Retail Inventories MoM1.10%1.20%
9/29/20S&P CoreLogic CS 20-City MoM SA0.10%0.00%
9/29/20S&P CoreLogic CS 20-City YoY NSA3.60%3.46%
9/29/20S&P CoreLogic CS 20-City NSA Index225.13
9/29/20S&P CoreLogic CS US HPI YoY NSA4.29%
9/29/20S&P CoreLogic CS US HPI NSA Index219.82
9/29/20Conf. Board Consumer Confidence9084.8
9/29/20Conf. Board Present Situation84.2
9/29/20Conf. Board Expectations85.2
9/30/20MBA Mortgage Applications6.80%
9/30/20ADP Employment Change648k428k
9/30/20GDP Annualized QoQ-31.70%-31.70%
9/30/20Personal Consumption-34.10%-34.10%
9/30/20GDP Price Index-2.00%-2.00%
9/30/20Core PCE QoQ-1.00%-1.00%
9/30/20MNI Chicago PMI5251.2
9/30/20Pending Home Sales MoM3.00%5.90%
9/30/20Pending Home Sales NSA YoY15.40%
10/1/20Challenger Job Cuts YoY116.50%
10/1/20Initial Jobless Claims850k870k
10/1/20Continuing Claims12200k12580k
10/1/20Personal Income-2.50%0.40%
10/1/20Personal Spending0.80%1.90%
10/1/20Real Personal Spending0.50%1.60%
10/1/20PCE Deflator MoM0.30%0.30%
10/1/20PCE Deflator YoY1.20%1.00%
10/1/20PCE Core Deflator MoM0.30%0.30%
10/1/20PCE Core Deflator YoY1.40%1.30%
10/1/20Bloomberg Consumer Comfort49.8
10/1/20Markit US Manufacturing PMI53.553.5
10/1/20Construction Spending MoM0.70%0.10%
10/1/20ISM Manufacturing56.256
10/1/20ISM New Orders67.6
10/1/20ISM Prices Paid58.659.5
10/1/20ISM Employment46.4
10/1/20Wards Total Vehicle Sales15.60m15.19m
10/2/20Change in Nonfarm Payrolls850k1371k
10/2/20Two-Month Payroll Net Revision-39k
10/2/20Change in Private Payrolls875k1027k
10/2/20Change in Manufact. Payrolls35k29k
10/2/20Unemployment Rate8.20%8.40%
10/2/20Average Hourly Earnings MoM0.20%0.40%
10/2/20Average Hourly Earnings YoY4.80%4.70%
10/2/20Average Weekly Hours All Employees34.634.6
10/2/20Labor Force Participation Rate61.90%61.70%
10/2/20Underemployment Rate14.20%
10/2/20U. of Mich. Sentiment78.978.9
10/2/20Factory Orders1.00%6.40%
10/2/20U. of Mich. Current Conditions87.5
10/2/20Factory Orders Ex Trans1.10%2.10%
10/2/20U. of Mich. Expectations73.3
10/2/20Durable Goods Orders0.40%0.40%
10/2/20U. of Mich. 1 Yr Inflation2.70%
10/2/20Durables Ex Transportation0.40%0.40%
10/2/20U. of Mich. 5-10 Yr Inflation2.60%
10/2/20Cap Goods Orders Nondef Ex Air1.70%1.80%
10/2/20Cap Goods Ship Nondef Ex Air1.50%

 

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