Upcoming Government Reports & Holidays
|3-Sep||LABOR DAY HOLIDAY||—|
|4-Sep||CONSTRUCTION SPENDING||10:00 AM|
|5-Sep||INTERNATIONAL TRADE REPORT||8:30 AM|
|5-Sep||U.S. INTERNATIONAL TRADE IN GOODS & SERVICES||8:30 AM|
|6-Sep||MANUFACTURERS’ SHIPMENTS, INVENTORIES…||10:00 AM|
|7-Sep||EMPLOYMENT SITUATION REPORT||8:30 AM|
|11-Sep||MONTHLY WHOLESALE TRADE: SALES & INVENTOR…||10:00 AM|
|12-Sep||PRODUCER PRICE INDEX REPORT||8:30 AM|
|13-Sep||CONSUMER PRICE INDEX REPORT||8:30 AM|
|14-Sep||ADVANCE MONTHLY SALES FOR RETAIL & FOOD SERV||8:30 AM|
|14-Sep||MANUFACTURING & TRADE: INVENTORIES & SALES||10:00 AM|
|19-Sep||NEW RESIDENTIAL CONSTRUCTION||8:30 AM|
|26-Sep||NEW RESIDENTIAL SALES||10:00 AM|
|27-Sep||ADVANCE REPORT ON DURABLE GOODS||8:30 AM|
|27-Sep||ADVANCE ECONOMIC INDICATORS REPORT||8:30 AM|
|27-Sep||GROSS DOMESTIC PRODUCT||8:30 AM|
Key Events That Moved the Market in August 2018
Above: S&P 500 Daily Chart: July 31 to August 20, 2018
- Futures are mixed, being supported by stronger than expected second quarter corporate earnings reports and a bullish Automatic Data Processing employment change report, but fears of an escalating tariff war between the U.S. and China limited gains.
- The Shanghai Composite Index dropped 1.8% after several White House advisers urged President Donald Trump to sharply increase tariffs that were proposed on some Chinese imports.
- The ADP national employment report for July showed + 219,000 beating expectations of 185,000. On Friday, U.S. nonfarm payrolls report is predicted to come in at + 190,000.
- The 8:45 central time July PMI and ISM manufacturing index came in close to expectations at 55.3 and 58.1 respectively.
- The June construction spending report, estimated to be up .3%, came in at -1.1%.
- Indices opened lower due to US and China trade war fears as President Trump proposed a 25% tariff on $200 billion worth of Chinese imports.
- As a corollary, the Shanghai Composite Index had dropped over 2.0%.
- Initial jobless claims increased to a seasonally adjusted 218,000 in the week ended July 28, though less than economist forecasts.
- S. nonfarm payrolls increased by a seasonally adjusted 157,000 in July, weaker than the 190,000 expected.
- The unemployment rate was 3.9% as expected, less than 4.0% the previous month.
- Revised figures show a net upward revision of 59,000 as employers added 248,000 jobs in June and 268,000 in May.
- Financial Times reports that China had lost its status as the world’s second largest stock market to Japan as a result of the trade war with the U.S.
- S. stock index futures performed well despite global trade uncertainties and weaker-than-expected nonfarm payrolls report.
- The Shanghai Composite Index dropped for a fourth consecutive day and testing its 2018 lows.
- Over the S&P 500 companies that have reported to date, 78.6% have exceeded earnings estimates.
- JOLTS report can in at 6.662 million, slightly higher than the 6.650 million expected.
- Consumer credit came in below expectations, up $10.2 billion in June as consumers held back from adding to their credit-card debt
- Of the S&P 500 that have reported so far, 79.2% of them have surpassed estimates, closing on its highest record in 1994.
- China announced that it will impose $16 billion of 25% retaliatory tariffs on August 23.
- PPI excluding the often volatile food and energy categories was up .1%, virtually unchanged.
- Americans filing applications for new unemployment benefits remained close to historic lows as U.S. initial weekly jobless claims fell 6,000 to 213,000 beating expectations of 220,000.
- Turkey’s crisis spilled into global financial markets, the Lira plunging by -20%.
- The crisis is heightening fears that Turkey’s crisis may affect Asian and European banks that have invested in that region.
- The U.S. consumer price index in July increased 0.2% from a month earlier; core prices, excluding the food and energy components, are up by 0.2%.
- The Turkish Lira continued its drop, raising demand for the US dollar; the dollar index jumping by 1.3% today.
- Global markets rebounded from concerns over weakness in the Turkish currency; US indices advanced.
- As the US and China trade war heats up, U.S. import prices are soaring to its highest levels in six years, while export price gains slowed.
- S. stock index futures fell due to concerns over the political situation in Turkey and trade war tensions.
- China’s equity markets underwent another sell-off, now in bear market territory; their economy slowing.
- Retail sales rose .5% from the prior month. Economists had expected a .1% increase in July.
- The Empire State manufacturing increased to 25.6 beating expectations of 20.
- Industrial production increased .1%, lower than economist expectations of .3%.
- The August Atlanta Federal Reserve business inflation expectation came in at 2.1% as expected.
- S. stock indices advanced as China and the White House announced that they will be holding trade talks later in August.
- Housing starts increased .9% in July from the previous month, higher than the median estimate of an 8.3% increase.
- Residential building permits were up 1.5%, lower than economist expectations a 2.9% gain for permits.
- Initial weekly U.S. jobless claims fell 2,000 to a seasonally adjusted 212,000. Median estimate called for 215,000.
- The August Philadelphia Federal Reserve business index was 11.9, as compared with 25.7 in July. Median estimate was 22.0.
- S. stock indices opened lower due to disappointing earnings from several technology companies.
- Trump administration warned Turkey that it would impose more sanctions if it doesn’t release the American pastor facing 35 years in prison on disputed espionage charges.
- The selling was limited by guarded optimism that progress could be made in next week’s new round of trade talks between the U.S. and China.
- Consumer sentiment report fell to 95.3, well below consensus and also below the low estimate.
- S&P 500 reaches a new record high at 2873.23 and ties the record for the longest bull run in history.
- US indices are higher on hopes that planned trade talks between the U.S. and China could help resolve escalating trade tensions between the worlds two biggest economies.