STATUS CHECK: NEXT WK, FOMC AND US GDP. MORE NASDAQ WOES?
WASHINGTON (MaceNews) – The following is Friday’s’ status check of developments in the U.S. that can influence economic, health and political outcomes: The VIX stayed about the same at 25.84 Friday after U.S. stocks were modestly negative for a second day. The DJIA finished -0.68%/-`82.94 and off 0.76% for the week. S&P -0.67%/-20.03 and also […]
DATA PREVIEW: THE COVID BILL COMES DUE WITH Q2 US GDP
By Kevin Kastner WASHINGTON (MaceNews) – All throughout the COVID-19 shutdown, everyone from talking heads to economists to politicians spoke about second quarter GDP in ominous terms – a data point that was way down the road at the time. So now here we are. The advance estimate of second-quarter GDP will be released Thursday […]
DATA FLASH: US INITIAL CLAIMS SLOW; DURABLE GOODS ORDERS SURGE
–Initial Claims -60,000 to 1.480 Mln; Pace of Decline Continues To Flatten–May Durable Goods New Orders Jump 15.8%; Shipments Up 4.4%–Q1 GDP, Real PCE Both Unrevised As Analysts Focus On Massive Q2 Decline––May Adv Trade Gap -$74.3 Bln, Wholesale Inventories -1.2%; Retail -6.1% By Kevin Kastner WASHINGTON (MaceNews) – The massive amount of data released simultaneously […]
SIFMA SURVEY: ’20 GDP -5.5%; ’21 +4.7%; NO NEGATIVE RATES
NEW YORK (MaceNews) – A survey of 26 chief economists of global and regional financial institutions Tuesday saw U.S. fourth quarter to fourth quarter GDP falling 5.5% this year and rebounding strongly next year with a 4.7% gain. The survey, taken through May 28, also found no expectation for the Federal Reserve to purposely employ […]
DATA FLASH: APRIL INCOME LIFTED BY STIMULUS, BUT NO PLACE TO SPEND
–US April Personal Income +10.5%, Transfer Payments +89.6% on Stimulus–Savings Rate 33.0%, Nominal PCE -13.6%, Real PCE -13.2%, Core Prices -0.4%–May Chicago PMI Falls to 32.3 from 35.4 in April–May Michigan Sentiment Index Revised Down to 72.3 After 71.8 in April By Kevin Kastner WASHINGTON (MaceNews) – Personal income surged in April on the large […]
DATA FLASH: US INITIAL CLAIMS SLOW FURTHER; DURABLE GOODS ORDERS PLUNGE
–Initial Claims – 323,000 to 2.123 Mln; 37.2 Mln Total Under COVID–Durable Goods New Orders -17.2%; Shipments -17.7%–Q1 GDP Revised Down To -5.0% Vs -4.8%, PCE -6.8% By Kevin Kastner WASHINGTON (MaceNews) – The U.S. data released earlier Thursday offered few surprises, with the level of initial claims continuing to slide, durable goods orders down […]
WHITE HOUSE WATCH COMMENTARY: AN INCONSEQUENTIAL VIRUS OBITUARY
By Denny Gulino WASHINGTON (MaceNews) – With by one count 93,382 deaths blamed on the corona virus through Wednesday, each one a life-altering tragedy for a family, there is hardly any point chronicling the death of an inanimate process which few could care about or should. Yet the passing of the early morning ritual of […]
DATA PREVIEW: FEWER DATA POINTS IN THE MAY 18 WEEK, BUT NOT LESS NEGATIVITY
By Kevin Kastner WASHINGTON (MaceNews) – After an overflow of data Friday, there is a breather coming in the May 18 week, but that doesn’t mean there won’t be anything for markets and analysts to focus on. Housing data takes up much of the schedule, starting with the National Association of Home Builders’ Housing Market […]
FED’S HARKER: FED TO KEEP RATES LOW UNTIL A ‘DEMONSTRABLE MOVE’ TOWARD NORMAL ECONOMY
By Jon Hurdle PHILADELPHIA (MaceNews) – Philadelphia Federal Reserve President Patrick Harker said on Tuesday that interest rates will remain low until policy-makers see clear evidence that the economy is recovering from the Covid-19 pandemic. “We have committed in the FOMC to move rates to essentially zero. The Fed Funds rate is between zero and […]
CHICAGO FED’S EVANS: ‘REASONABLE’ TO EXPECT RECOVERY BY 2H 2020, BUT LOOKING ‘QUARTER BY QUARTER’
By Suzanne Cosgrove CHICAGO (MaceNews) – After a sharp contraction in the first half, it is “reasonable” to expect the US economy to pick up in the second half of 2020, Chicago Federal Reserve Bank President Charles Evans said Tuesday. In a media conference call, Evans cautioned that he would have to evaluate economic conditions […]