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Show Me The Data (June 24th – June 30th)

|About: SPDR S&P 500 Trust ETF (SPY), QQQ

Key US Economic Data Points Released Last Week.

This is a new series I am going to roll out. It will include the most important economic data statistics for the United States and will grow to include market data and international economic data points, all while keeping commentary to a minimum.

Key Economic Data Points:

United States:

  • Consumer:
    • The University of Michigan said Friday its final index of consumer sentiment was 98.2 this month, down from May’s reading of 100.0
    • The Conference Board, a private research group, said Tuesday its index of consumer confidence fell to 121.5 in June
    • That was a nearly 10-point drop from 131.3 in May and was the index’s lowest level since September 2017
    • Economists surveyed by The Wall Street Journal had expected a reading of 131.
    • The share of respondents who said jobs were plentiful decreased slightly to 44% in June from 45.3% in May, while those who said jobs are hard to get rose to 16.4% from 11.8% last month.
    • A gauge of household assessments about the present economic situation decreased to 162.6 from 170.7, while an index tracking expectations for the future decreased to 94.1 from 105.0 last month
    • Personal-consumption expenditures, a measure of household spending on everything from carpet cleaning to computers, rose a seasonally adjusted 0.4% in May from April
    • Spending growth also was stronger in April than previously thought. The department lifted its estimate to 0.6% from an originally reported 0.3%.
    • Americans’ pretax earnings from wages, salaries and investments climbed 0.5% in May from April, matching the best monthly gain so far this year.
  • Labor Force:
    • Initial jobless claims, a proxy for layoffs across the U.S., were a seasonally adjusted 227,000 in the week ended June 22, up 10,000 from the week before
    • The four-week moving average of claims, a steadier measure, increased 2,250 to 221,250.
    • Thursday’s report also showed the number of claims workers made for longer than a week increasing 22,000 in the week ended June 15 to 1,688,000.
  • Housing:
    • Average home prices in major metropolitan areas rose 3.5% in the year ended in April, decelerating from 3.7% the prior month and 3.9% in February, according to the S&P CoreLogic Case-Shiller National Home Price Index
    • The report’s 10-city and 20-city composite indexes of the largest metropolitan areas increased only 2.3% and 2.5%
    • Purchases of newly built single-family homes decreased 7.8% to a seasonally adjusted annual rate of 626,000 in May
    • Economists surveyed by The Wall Street Journal had expected a sales pace of 683,000 homes in May.
    • The monthly decline was driven by a 35.9% drop in sales in the West.
    • Sales in April were revised up modestly to a 679,000 pace, while March sales were revised down to 705,000.
    • Sales of previously owned homes rose in May, increasing 2.5% to a seasonally adjusted annual rate of 5.34 million, the National Association of Realtors said last week.
    • The median sales price of a new home in May was $308,000, down from $316,700 a year earlier.
  • Inflation:
    • The price index for personal-consumption expenditures, rose a seasonally adjusted 0.16% in May from April
    • Core-PCE was up .19% from April
    • This translate to the broad PCE price index in May being up 1.52% and the core-PCE being up 1.6% from a year earlier
    • Prices for services grew at a 0.2% from last month
    • Prices for durable goods, following three straight months of declines, ticked up 0.11% from last month
    • Fed officials last week lowered their median projection for the PCE price index this year, expecting it to end 2019 just 1.5% higher than a year before, down from their March expectation of a 1.8% rise. Also, they no longer expect PCE inflation to reach 2% before 2021.
    • Treasury Inflation-Protected Securities—indicates investors expect inflation over the next 10 years to average just 1.68% annually.
    • On a three-month annualized basis, the overall PCE price index was up 2.8% through May, while the core measure was up 2.02%.
  • Industrial Production:
    • Overall orders for durable goods fell 1.3% in May from April
      • Much of the drop owed to the volatile civilian aircraft and spares component
      • When excluding the transportation category, orders grew at a 0.3% pace.
    • New orders for nondefense capital goods excluding aircraft, increased 0.4% from April.
    • The Purchasing Managers Index for U.S. manufacturing activity declined to 50.1 in June, the lowest level in nearly a decade