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Daily Market MoversThe following news stories, economic reports, and statistical tables are selected and compiled by founder John F. Gallwas, who has been an active participant in the financial service industry since January of 1958.
SaturdayTreasuries gained the most this month since January as faltering European growth and turmoil in Ukraine prompted investors to seek higher-returning U.S. government debt even with the economy strengthening
FridayBB: The ISN Chicago PMI was higher than expected at 64.3 vs 52.6 in July, a sign that manufacturing will continue to add momentum to the economy.
BB:Consumer spending in the U.S. unexpectedly dropped in July by -0.1%, for the first time in six months, a sign households are lagging behind as wages fail to accelerate.
BB: Euro-area August CPI was +0.3% vs +0.4% in July, increasing pressure on the European Central Bank to take action to kindle the bloc’s faltering recovery.
BB: Japanese July Industrial production rose less than expected at +0.2% from June, highlighting the challenge of reflating the world’s third-largest economy.
ThursdayBB: July Pending Home Sales were better than expected at +3.3% vs a revised worse -1.3% in June, a sign of renewed momentum in residential real estate.
BB: Initial Claims for the week ended 8/23 were lower than expected at 298K vs a revised up 302K the week before and the 4-week moving average dipped to 299,750 vs 301K.
BB: German unemployment unexpectedly rose in August to 2,901M, as a stagnating euro-area recovery and tension with Russia darkened the outlook for Europe’s largest economy.
BB: the August Euro-area economic confidence index fell more than forecast to 100.6 vs 102.1 in July, as Spanish consumer prices dropped the most in five years and German unemployment unexpectedly rose in a burst of data backing Mario Draghi’s warning that more stimulus may be needed.
WednesdayBB: Treasuries advanced as investors were attracted to the recent rise in yields that made the securities the cheapest versus their international counterparts in seven years.
TuesdayBB: Home prices in 20 U.S. cities rose at a slower pace in the year ended in June as declining affordability and weak wage gains kept appreciation in check.
BB: July durable Goods Orders were much higher than expected due to commercial aircraft orders at +22.6% vs a revised up +2.7%, but demand for business equipment eased after the biggest gain in seven month.
Gallup: Gallup's U.S. Economic Confidence Index continued along its static pattern, remaining at -16 for the week ending Aug. 24 -- the same score as was recorded the previous week.
MondayBB: The pace of new-home sales unexpectedly declined 2.4% to a 412,000 annualized pace, signaling U.S. real estate lacks the vigor to propel faster growth in the economy.
Economic Reports for the Week ending Friday - September 5, 2014
Last Week's Scorecard
* Local currencies
We do not guarantee accuracy of any of the data on this page. If you have any comments or suggestions, please contact William Gallwas or call 800-669-8838
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