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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.
ThursdayBB: March Durable Goods Orders were better than expected at +2.7%,the biggest increase in eight months, as a broader measure also saw surprising strength, signs corporate investment is regaining its footing despite trade war uncertainty.
WS: 1sr Q GDP was likely a solid +2.5%, in the report to be issued tomorrow, despite a rocky start to the quarter due to a prolonged government shutdown and financial-market turmoil in late 2018.
WednesdayBB: Trade negotiators led by U.S. Trade Representative Lighthizer and Treasury Secretary Mnuchin will travel to Beijing next week, the White House said, as both sides work to reach a draft agreement by next month.
ADM: At least 1 million acres of U.S. farmland were flooded after a "bomb cyclone" storm; Indigo Ag, an agriculture technology company, identified 832 on-farm storage bins within flooded Midwest areas. The bins hold an estimated 5 million to 10 million bushels of corn and soybeans that could have been damaged in the floods.
Gallup: The government and immigration continue to stand apart from other issues when Americans are asked to name the most important problem facing the U.S. These two issues, mentioned in an April 1-9 poll by 23% and 21% of U.S. adults, respectively, are the only ones cited by more than one in 10 Americans, as they have been for all but one of the past 13 months.
TuesdayBB: March New Home Sales were higher than expected 692K vs revised down 622K in February, and climbing to a 16-month high to cap the first quarter with a third straight increase that reflects a boost from lower borrowing costs. The median sales price decreased 9.7% from a year earlier to a two-year low of $302,700.
FHA: .The FHFA House Price Index reported a 0.3% increase in U.S. house prices in February from the previous month. From February 2018 to February 2019, house prices were up 4.9 percent.
MondayWS: March sales of existing homes was lower than expected at 5.21M vs a revised down 5.48M in February, suggesting weaker demand despite lower interest rates and a strong labor market.
Existing-home sales fell 4.9% in March from the previous month to a seasonally adjusted annual rate of 5.21 million, the National Association of Realtors said Monday. Economists surveyed by The Wall Street Journal expected sales to fall 3.8% to a 5.30 million rate last month. WS: The State Department announced today the end of waivers for countries to import Iranian, part of the Trump administration’s effort to drive Iran’s exports to zero.
SundayWS: Federal Reserve officials are starting to talk about the conditions under which they would cut interest rates, including a scenario where inflation drifts lower even if the economic growth doesn’t falter.
Gallup: Americans' confidence in the economy dipped in March and April after surging in February, shortly after the end of the latest government shutdown. Gallup's Economic Confidence Index is now +21, down from the post-shutdown spike to +32. Confidence remains higher than it was during the shutdown, in early January, but is still not back to the +30 or higher level found through much of 2018.
Economic Reports for the Week ending Friday April 26, 2019
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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