Initial Jobless Claims

The Week's Key Economic And Financial Events

In this holiday-shortened week, attention will be on the US FOMC minutes, housing data and consumer confidence. There will be GDP, PMI and inflation releases across the Euro Area as well as the latest Greek Eurogroup meeting. Look for GDP and public finances data in the UK.

Initial Jobless Claims Divergence Of The Week

Initial jobless claims rose modestly on the week but remain at the lowest levels since Watergate as it appears the labor market entirely ignores the demise of actual "hard" data since the election...

Futures, European Shares Stumble After Massively Overbought World Stocks Hit Record High

Whether it is due to overnight news that much of the recent rally may have been due to one specific fund's cover of a synthetic "short SPY" trade, or just because algo traders have gotten a case of overbought robotic vertigo, S&P futures dropped 0.2% in early Thursday trading as risk appetite fizzled and European shares dropped on concern the longest rally since July 2015 went too far, while the yen, bonds and gold advanced as the dollar fell.

Key Events In The Coming Humphrey-Hawkish Week

The key economic releases this week are CPI, retail sales, and industrial production on Wednesday. In addition, there are several scheduled speaking engagements from Fed officials this week, including Chair Yellen’s semi-annual Monetary Policy Report to Congress on Tuesday and Wednesday (Humphrey-Hawkins).

Global Stocks Rise, S&P Futures Make New Record Highs As "Trump Trade" Euphoria Returns

European and Asian stocks, S&P futures, bond yields, the dollar and commodity metals are rose, in some cases making new all time highs, lifted by the latest reemergence of the "Trump trades" as hopeful investors once again bet that the U.S. president's tax reform plans will boost economic growth and corporate profits, despite another warning from Goldman that the president's fiscal plan is about to be derailed.

Initial Jobless Claims Plunge To 44 Year Lows

While continuing claims continue to rise post-election, initial jobless claims have collapsed back to with 1k of the lowest levels since 1973. While everything is awesome with this print, one wonders what happens next? Which is more likely - higher or lower from here?

Asian Stocks Hit 18 Month High; Europe, US Futures Bounce As Dollar Rises

Asian stocks hit their highest level in 18 months, with positive momentum lifting European shares which were helped by Societe Generale earnings. Yields fell on some of the euro zone's battered low-rated bonds as investors put aside the political risks that have dominated markets this week. After trading flat, S&P futures bounced as US traders walked boosted by a spike in the USDJPY.

Key Events In The Coming Week

It is a relatively light week in the US, with mainly trade balance, JOLTS and consumer credit data out. The key economic release this week is University of Michigan consumer sentiment on Friday. In addition, there are a few scheduled speaking engagements from Fed officials this week. 86 S&P 500 companies reporting, representing 11% of the index market cap

Global Stocks, US Futures Rise Despite Growing Political Tension In Europe

In a relatively quiet session, which may see US traders sleep in a bit after last night's Superbowl thriller, European and Asian shares rose ahead of Mario Draghi’s testimony at the European Parliament, while US equity futures were fractionally higher (up 0.1% to 2,293) after stocks jumped the most in a week, as traders assessed the trajectory for interest rates while scrutinizing every new Trump tweet.

US Futures Rise Ahead Of Payrolls Following A Surprise-Filled Asian Session

European stocks and S&P futures rose modestly ahead of January US payrolls data, along with the dollar, while Asian shares dropped after China returned from a week-long holiday. Bonds slid, oil rose while the JGB intervened in the bond market to prevent a bond rout, in one of two major surprises during the Asian session.