Weekly Review 28-6-2020

S&P500 -2.86% (3,009.05); NASDAQ -1.90% (9,757.22); DJIA -3.31% (25,015.55)

This week’s reports:

Q1 2020 GDP Annualized (third estimate) was unchanged from the previous estimate of -5.0%.
June’s Michigan Consumer Sentiment Index fell to 78.1 from May’s 78.9.
May’s Personal Income fell 4.2% from April’s -10.8%, as Federal economic recovery payments continued but were at a lower level than in April. Personal Spending rose 8.2% from April’s -12.6%.
April’s FHFA Housing Price Index rose 0.2% from March’s +0.1%.
May’s Existing Home Sales fell 9.7% from April’s -17.8%. New Home Sales rose 16.6% from April’s -5.2%.
May’s Chicago Fed National Activity Index (CFNAI) rose to 2.61 from April’s -17.89.
June’s Markit Manufacturing PMI (prelim.) rose to 49.6 from May’s 39.8. Services PMI (prelim.) rose to 46.7 from May’s 37.5. Composite PMI (prelim.) rose to 46.8 from May’s 37.0.
June’s Richmond Fed Manufacturing Index rose to 0 from May’s reading of -27.
May’s Wholesale Inventories (prelim.) fell 1.2% from April’s +0.2%.
May’s Durable Goods Orders jumped 15.8% from April’s -18.1%. Durable Goods Orders ex Transportation rose 4% from April’s -8.2%.
Initial Jobless Claims for the week ending June 20^th fell by 60K to 1.48M, their 12^th straight weekly decline. Continuing Jobless Claims for the week ending June 13^th fell by 17.233K to 19.522M. Consensus expectations were for 19.968 million continuing claims.