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Richmond Fed: “Fifth District Manufacturing Firms Reported Robust Growth in May”

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Richmond Fed: “Fifth District Manufacturing Firms Reported Robust Growth in May”

From the Richmond Fed: Fifth District Manufacturing Firms Reported Robust Growth in May Fifth District manufacturing firms saw robust growth in May, according to survey results from the Federal Reserve Bank of Richmond. The composite index swung from ?3 in April to 16 in May, boosted by growth in the indexes for shipments, new...
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Schedule for Week of May 20, 2018

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Schedule for Week of May 20, 2018

The key economic reports this week are April New and Existing home sales. —– Monday, May 21st —–8:30 AM ET: Chicago Fed National Activity Index for April. This is a composite index of other data. —– Tuesday, May 22nd —–10:00 AM ET: Richmond Fed Survey of Manufacturing Activity for May. —– Wednesday, May 23rd...
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Hotels: Occupancy Rate increases Year-over-Year, On Pace for Record Year

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Hotels: Occupancy Rate increases Year-over-Year, On Pace for Record Year

From HotelNewsNow.com: STR: US hotel results for week ending 12 May The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 6-12 May 2018, according to data from STR. In comparison with the week of 7-13 May 2017, the industry recorded the following: • Occupancy: +0.8%...
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Wednesday: Housing Starts, Industrial Production

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Wednesday: Housing Starts, Industrial Production

Wednesday:• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. • At 8:30 AM, Housing Starts for April. The consensus is for 1.325 million SAAR, up from 1.319 million SAAR in March. • At 9:15 AM, The Fed will release Industrial Production and Capacity...
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Sunday Night Futures

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Sunday Night Futures

Weekend:• Schedule for Week of May 13, 2018 Monday:• No major economic releases scheduled. From CNBC: Pre-Market Data and Bloomberg futures: S&P 500 are up 7, and DOW futures are up 71 (fair value). Oil prices were up over the last week with WTI futures at .65 per barrel and Brent at .07 per...
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Oil Rigs: “Rig additions keep rolling along”

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Oil Rigs: “Rig additions keep rolling along”

A few comments from Steven Kopits of Princeton Energy Advisors LLC on May 11, 2018: • Total US oil rigs were up, +10 to 844 • Horizontal oil rigs, however, were only up +2 at 745…• Oil rig additions came in the neglected ‘directional’ category, but only represented the recovery off rigs taken off...
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“Mortgage Rates Back at 4-Year Highs Ahead of Inflation Data”

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“Mortgage Rates Back at 4-Year Highs Ahead of Inflation Data”

From Matthew Graham at Mortgage News Daily: Mortgage Rates Back at 4-Year Highs Ahead of Inflation Data Mortgage rates moved higher today as bond markets braced for impact from several upcoming events. … omorrow’s Consumer Price Index–a key inflation report that can have an immediate impact on the bond market. If inflation is lower...
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Tuesday: Fed Chair Powell Panel Discussion, Job Openings, Small Business Confidence

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Tuesday: Fed Chair Powell Panel Discussion, Job Openings, Small Business Confidence

From Matthew Graham at Mortgage News Daily: Mortgage Rates Still Waiting to Make a Move Mortgage rates have been exceptionally sideways for nearly 2 weeks now–this after hitting the highest levels in more than 4 years on April 25th. emphasis added Tuesday:• At 3:15 AM ET, Panel Discussion, Fed Chair Jerome...
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Goldman: April Payrolls Preview

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Goldman: April Payrolls Preview

A few brief excerpts from a note by Goldman Sachs economists Daan Struyven and Spencer Hill: We expect a 180k increase in nonfarm payroll employment in April, slightly below consensus expectations for a 190k gain. Most labor market indicators decelerated somewhat, and we don’t expect a meaningful weather rebound (relative to trend). … the...
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Q1 2018 GDP Details on Residential and Commercial Real Estate

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Q1 2018 GDP Details on Residential and Commercial Real Estate

The BEA has released the underlying details for the Q1 advance GDP report. The BEA reported that investment in non-residential structures increased at a 12.3% annual pace in Q1.  Investment in petroleum and natural gas exploration increased substantially recently, from a billion annual rate in Q4 2016 to a 8 billion annual rate in Q1...
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