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 Oct. 2, 2020
Posted Under: Weekly Market Commentary

 
Longer-term U.S. government bond yields rose, and the yield curve steepened somewhat after a number of economic reports were released last week. Personal income fell 2.7% in August from the prior month due to a drop in unemployment benefits as supplemental payments of $600 per week expired on July 31. However, employee compensation rose 1.2% in August compared to July. Consumer spending was up 1% over the prior month, its 4th straight monthly increase, and is now down roughly 2% compared to a year ago. Meanwhile, initial jobless claims for the week ended September 26 were 837,000, which was the 5th consecutive week between 800,000 and 900,0000. However, continued claims, or the number of people already receiving unemployment benefits, fell by nearly 1 million to the lowest level since March. The jobs report released Friday showed the U.S. economy added 661,000 jobs in September, which was below expectations, while the unemployment rate fell to 7.9%. The economy has now recovered about half of the 22 million jobs lost in March and April, adding 11.4 million jobs from May through September. Major economic reports (related consensus forecasts, prior data) for the upcoming week include Tuesday: August Trade Balance (-$66.0b, -$63.6b); Wednesday: October 2 MBA Mortgage Applications (N/A, -4.8%); Thursday: October 3 Initial Jobless Claims (820k, 837k); Friday: August Final Wholesale Inventories MoM (0.5%, 0.5%).
Posted on Monday, October 5, 2020 @ 8:25 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


 PREVIOUS POSTS
Top-Performing S&P 500 Index Subsectors In 2020
A Snapshot Of Bond Valuations
US Stock Markets Ended Sept. 25, 2020
US Economy and Credit Markets Ended Sept. 25, 2020
Sector Performance Via Market Capitalization (Year-to-Date)
S&P 500 Index Dividend Payout Holding Up But Stock Buybacks Plunge
US Stock Markets Ended Sept. 18, 2020
US Economy and Credit Markets Ended Sept. 18, 2020
One Way To Potentially Keep Pace With Rising Health Care Costs
A Global Snapshot Of Equity Returns During The COVID-19 Pandemic
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.