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 RISE, CONGRESS DEBATES NEXT STEP
–-Initial Claims +109,000 to 1.416 Mln; Continuing Claims -1.107m to 16.197 Mln By Kevin Kastner WASHINGTON (MaceNews) – As Congress debates how to deal with the end of July deadline for the extended jobless claims program, another 1.416 million initial claims were filed in the July 18 employment survey week, up 109,000 from the level in […]
STATUS CHECK: BIRX ASKS FOR NORTHEAST HELP IN FREEING TESTING FOR THE SOUTH
WASHINGTON (MaceNews) – The following is Wednesday’s updated status check of developments in the U.S. that can influence economic, health and political outcomes: With the VIX calmer (down) another 2% at 24.32 after-hours stock futures late Wednesday showed little movement after the day’s positive session boosting the DJIA +0.62%/+164.44. S&P finished +0.57%/+18.72; Nasdaq +0.24%/+25.76. The […]
BOE’S HALDANE: MPC MULLING SUB-ZERO RATES DESPITE STRONG ECONOMIC RECOVERY
By Laurie Laird LONDON (MaceNews) – The Bank of England is continuing to assess the efficacy of negative interest rates, despite a stronger-than-expected economy recovery, the bank’s chief economist said Monday. Sub-zero interest rates are “actively under review,” said Andy Haldane, addressing the UK’s Treasury Select Committee. The bank could also consider expanding its quantitative […]
DATA PREVIEW: US HOME SALES CENTER STAGE IN QUIET DATA WEEK
By Kevin Kastner WASHINGTON (MaceNews) – In the lighter data week ahead, the focus will be on new and existing homes sales for June, reflecting the extremely low level of mortgage rates offset by continued uncertainty due to the resurgence of COVID cases and the elevated unemployment rate. In May, existing home sales plunged by […]
DATA FLASH: US JUNE RETAIL SALES STRONGER THAN EXPECTED, UP 7.5%
-Retail Sales Excluding Motor Vehicles Rise 7.3%; Vehicle Sales Up 8.2%-Initial Jobless Claims Fall by 10,000 to 1.310m in the July 11 Week-Philadelphia Fed Index Dips to 24.1 in July from 27.5 in June-NAHB Index Rises To 72 in July From 58 in June, Almost Pre-COVID Level-Business Inventories Fall 2.3% in May, Business Sales Up […]
DATA PREVIEW: JUNE DATA SOLID, BUT COVID REBOUND LOOMS
By Kevin Kastner WASHINGTON (MaceNews) – The U.S. data for June have been generally positive, with a solid gain in nonfarm payrolls and the above-50 ISM readings for both the manufacturing and nonmanufacturing sectors. Of course, much of this was before several large states reported rebounds in their COVID-19 cases, so the silver cloud comes […]
DATA FLASH: US INITIAL CLAIMS SLIP, BUT STUBBORNLY ABOVE 1 MILLION
—Initial Claims -99,000 to 1.314 Mln; Pace of Decline Continues to Flatten–-Wholesale Inventories -1.2% in May, Business Inventories Tracking -2.3% By Kevin Kastner WASHINGTON (MaceNews) – The pace of initial claims gains continues to astound, with COVID-19 cases surging in several states that are causing some restrictions to be put back into place. Initial filings fell […]
FED’S BOSTIC: HIGH-FREQUENCY DATA SHOW LEVELING OFF IN ECONOMY
NEW YORK (MaceNews)- Recent high-frequency economic data suggestthe recovery is slowing as virus infections rise, Atlanta Fed President Raphael Bostic said Tuesday. Bostic, in webinar remarks to the Tennessee Business Roundtable, said the economy is rebounding from its depths in the first part of the second quarter but “more recent economic data show the upward […]