Macro: Employment — ADP and Initial Claims — Strong Employment continues
The economic backdrop today: Employment is strong Employment drives personal consumption Initial Unemployment claims dropped by 18,000 to 202,000. This is the 4th lowest number of initial unemployment claims of the year. Continuing claims dropped [...]
Macro: Job Openings and Labor Turnover
The labor market is softening, but still strong. Disclaimer: This information is presented for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy any [...]
Macro: ISM Mfg PMI — 47.4
Manufacturing regionally, nationally and globally continues to be in contraction. In line with that theme, ISM reported 47.4% this morning, the 14th straight month of contraction. Manufacturing is contracting at slower rates and export orders [...]
Macro: Major reports holiday week
Case Shiller Home Price Index The annual price change for houses from Oct 2022 to Oct 2023 is 4.8%. Though the monthly price increases are slowing, the annual inflation rate will continue to rise because [...]
Macro: Construction Spending
Residential construction continues to strengthen as non-residential construction may have peaked. The non-residential spending is a result of the public sector which contracted in November after a huge run for the last 18 months. Disclaimer: [...]
Macro: S&P Global US Manufacturing PMI — 47.9
Orders and output falling and now labor... “The slowdown is spreading to the labor market. Payrolls were cut for a third month running as increasing numbers of firms grew concerned about the development of excess [...]
Macro: Durable Goods
The headline number will be choppy for a few months because of dynamics from the end of 2022 and beginning of 2023. Core capital goods will be the series providing the most information for the [...]
Stay In Touch