Weekly Review 5-7-2020

S&P500 +4.02% (3,130.01); NASDAQ +4.62% (10,207.63); DJIA +3.25% (25,827.36)

This week’s reports:

June’s Unemployment Rate fell to 11.1%, much less than the expected 12.3%, from May’s 13.3%. Non-Farm Payrolls rose by 4.8 million (versus the expected 3 million) from May’s 2.699 million. Labor Force Participation Rate rose to 61.5% from May’s 60.8%.
June’s Average Weekly Hours fell to 34.5 from May’s 34.7. Average Hourly Earnings fell 1.2% from May’s -1%.
June’s Consumer Confidence Index jumped to 98.1 from May’s reading of 85.9. Economists expected consumer confidence to rise to 91.
May’s Pending Home Sales had their record monthly increase, surging 44.3% m/m from April’s -21.8% m/m. The expected increase was 19.7%.
April’s S&P/Case-Shiller Home Price Indices rose 4% y/y versus March’s +3.9% y/y.
June’s Dallas Fed Manufacturing Index surged to -6.1 from May’s -49.2.
June’s Chicago PMI rose to 36.6 from May’s 32.3.
June’s ISM Manufacturing PMI jumped to 52.6, the expansion territory, from May’s 43.1.
June’s Markit Manufacturing PMI surged to 49.8 from May’s 39.8.
June’s ISM-NY Business Conditions Index jumped to 39.5 from May’s 19.5.
May’s Factory Orders rose 8% from April’s -13.5%.
Initial Jobless Claims for the week ending June 27^th fell by 55K to 1.43M. Continuing Jobless Claims for the week ending June 20^th rose by 59K to 19.29M.