Project Description


S&P500  -2.26% (2,863.70);   NASDAQ  -1.17% (9,014.56);   DJIA  -2.65% (23,685.42)


This week’s reports:

  • May’s Michigan Consumer Sentiment Index (prelim.) rose to 73.7 from April’s 71.8. Confidence inched upward as the CARES relief checks improved consumers’ finances and widespread price discounting boosted their buying attitudes.
  • April’s CPI rose 0.3% y/y (fell 0.8% m/m) versus March’s 1.5% y/y (-0.4% m/m). CPI ex Food & Energy (Core) rose 1.4% y/y (fell 0.4% m/m) versus March’s 2.1% y/y (-0.1% m/m).
  • April’s Retail Sales fell 16.4% from March’s -8.3%. April’s decline in sales was their steepest on record and bigger than the expected -12% m/m. Retail Sales ex Autos fell 17.2% from March’s -4%.
  • May’s Empire State Manufacturing Index rose to -48.5 from April’s -78.2.
  • April’s Industrial Production fell 11.2% from March’s -4.5%. Capacity Utilization fell to 64.9% from March’s 73.2%.
  • April’s NFIB Small Business Optimism Index fell to 90.9 from March’s 96.4.
  • March’s Business Inventories fell 0.2% from February’s -0.5%.
  • Initial Jobless Claims for the week ending May 9th fell by 195K to 2,981K. That brings the total number of first-time claimants to 36.5 million since mid-March. Continuing Jobless Claims for the week ending May 1st rose by 456K to 22.833M.