- ICSC-UBS Store Sales Weekly Change (Released 7:45 EST)
- Redbook Weekly YoY (Released 8:55 EST)
- ICSC-UBS and Redbook TABLE (Released 8:55 EST)
- ISM Manufacturing (Released 10:00 EST)
- ISM Prices Paid (Released 10:00 EST)
- ISM TABLE (Released 10:00 EST)
- Construction Spending MoM (Released 10:00 EST)
- Construction Spending YoY (Released 10:00 EST)
- ABC Consumer Confidence (Released 17:00 EST)
ICSC-UBS Store Sales Weekly Change (Jul 1)
Muddling through as govt spending and fiscal rebates offer support.
Redbook Weekly YoY (Jul 1)
A bit better than expected and seem to be moving higher.
ICSC-UBS and Redbook TABLE (Jul 1)
ISM Manufacturing (Jun)
Better than expected, headline looks better than the detail, but holding up well above recession levels.
ISM Prices Paid (Jun)
Breaking out. Question is whether there’s any level of inflation that will trigger a fed rate hike if GDP and financial conditions (whatever that means) stay at current levels.
ISM TABLE (Jun)
- Not much change in headline or production/new order components.
- Most material changes in prices paid (up 4.5; to new cycle high) and employment (down 1.8; to new cycle low).
Kohn’s speech: tolerate higher unemployment and higher inflation.
- Based on continuing claims, conference board, and now ism, downside risk to -60k consensus for nfp on Thursday.
Weak, but not recession levels yet.
Government plus exports so far have made up for weak non-government domestic demand.
Construction Spending MoM (May)
A bit better than expected. Down but not terrible.
Construction Spending YoY (May)
Still near the lows, but a possible bottoming action.
ABC Consumer Confidence (Jun 29)
Still looking pretty grim, probably mostly due to higher prices.