Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
 
 
 
Blog Home
Bob Carey
Chief Market Strategist
Click for Bio

Follow Bob on Twitter Follow Bob on LinkedIn View Videos on YouTube
 

  US Economy and Credit Markets Ended Sept. 9, 2016
Posted Under: Weekly Market Commentary

 
Yields rose sharply on Thursday as the ECB's Mario Draghi showed no intention of expanding bond purchases from current levels. Two weeks ago, on August 26, his American counterpart Janet Yellen had noted that "the case for an increase in the federal funds rate has strengthened in recent months" but since then, there has been a relatively disappointing payroll report, a decline registered in the ISM manufacturing report and a decline registered in the ISM non-manufacturing report. As a result, the probabilities of a US Federal Reserve September rate hike have been very volatile and despite Chair Yellen's hawkish Jackson Hole talk; implied probabilities are currently only forecasting a 60% chance of a rate increase by year's end. Oil surged on Thursday, as data reflected a sharp decline in inventories which experts attribute to Hurricane Hermine delaying shipments from reaching US ports, before giving much of the gain back on Friday. As alluded to above, Tuesday's ISM non-manufacturing index report disappointed as it registered a decline to 51.4 from July's 55.5. A reading above 50 still signals expansion and this was the 79th consecutive month of expansion registered in the service sector. Thursday's Jobless Claims report showed filings for unemployment benefits dropped and the unemployment held firm at 5%. Major economic reports (and related consensus forecasts) for the upcoming week include: Wednesday: prior week MBA Mortgage Applications; Thursday: August Retail Sales (-.1%, -.1%), prior week Initial Jobless Claims (265K, +6K), August PPI Final Demand (.1%, +.5%), and August Industrial Production (-.2%, -.9%); Friday: August CPI (.1%, +.1%) and September's preliminary University of Michigan sentiment reading (91, +1.2).
Posted on Monday, September 12, 2016 @ 8:01 AM • Post Link Share: 
Print this post Printer Friendly

These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
Search Posts
MARKET ANALYSIS
Market Commentary and Analysis
Market Commentary Video
Weekly Market Commentary
Weekly Market Watch
Monthly Talking Points
Quarterly Newsletter
Market Observations
Subscribe To Receive Email
 


 PREVIOUS POSTS
An Update On The Recovery In Financials
The Bull Market In The S&P 500 Index May Be Picking Up Steam After A Sluggish
Stocks Ended Sept. 2, 2016
US Economy and Credit Markets Ended Sept. 2, 2016
Snapshot of U.S. Equity Styles/Market Caps
The U.S. Dollar Index Has Been Range Bound Since March 2015
Stocks Ended Aug. 26, 2016
US Economy and Credit Markets Ended Aug. 26, 2016
A Snapshot of Bond Valuations
S&P 500 Index Stock Prices Relative To Their 52-Week Highs
Archive
Skip Navigation Links.
Search by Topic
Skip Navigation Links.

 
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
Home |  Important Legal Information |  Privacy Policy |  California Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2022 All rights reserved.