Project Description
US
S&P500 +0.31%(2,721.33); NASDAQ +1.08% (7,433.85); DJIA +0.15% (24,753.09)
This week’s reports:
- April’s Chicago Fed National Activity Index rose to 0.34 from March’s 0.32.
- May’s Michigan Consumer Sentiment Index fell to 98.0 from April’s 98.8.
- April’s New Home Sales fell 1.5% from March’s +2.0%. Existing Home Sales fell 2.5% from March’s +1.1%.
- May’s Richmond Fed Manufacturing Index surged to 16 from April’s reading of -3.
- May’s Markit Manufacturing PMI (prelim.) rose to 56.6 from April’s 56.5. Services PMI (prelim.) rose to 55.7 from April’s 54.6. Composite PMI (prelim.) rose to 55.7 from April’s 54.9.
- April’s Durable Goods Orders fell 1.7% from March’s +2.7%. Durable Goods Orders ex. Transportation rose 0.9% from March’s +0.4%.
- Initial Jobless Claims for the week ending May 18th rose by 11K to 234K. Continuing Jobless Claims for the week ending May 11th rose by 29K to 1,741K.
- US stocks fell at the end of the week, paring some of their earlier gains, as tumbling oil prices and worries over political risks from North Korea to Italy kept investors on guard. Earlier in the week, shares rose after minutes from the Federal Reserve’s latest meeting showed the central bank plans to stay on a gradual path of rate increases even if inflation meets its target.