Friday, February 22, 2019
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Investor Resources
Daily Market Movers
The 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.
Commodity Calendar
WS: As U.S.-China trade talks reach a pivotal point, the Trump administration is counting on the Chinese leader’s special envoy, Liu He, to get Beijing to accept tough new strictures that are increasingly controversial in Beijing.
BB:Key Asian exporters Singapore, Japan and South Korea provided fresh evidence this week that the slump in global trade has further to run, and is beginning to spread to factories. South Korea’s exports tumbled by 12% during the first 20 days of February, data released Thursday showed. A day earlier Japan reported that exports fell 8.4 % in January from a year earlier, the first back-to-back fall since 2016. Singapore started the week by reporting January exports fell the most in more than two years.
MW: The Philadelphia Fed manufacturing index in February dropped sharply into negative territory. The index fell to a seasonally adjusted reading of -4.1 from 17 in the prior month. This is the first negative reading since May 2016.
MS: December Durable Goods orders were slightly less than expected at +1.2% vs revised up +1.0% in November, but when excluding the transportation-demand gauge, which tends to be volatile, orders grew at a weaker 0.1% pace.
WS: February Existing Home sales were less than forecast at 4.94 million seasonally-adjusted annual rate vs a revised up 5.0M in December. Although the median price of a home sold in February was $247,500, up 2.8% compared to a year ago. homes were on the market for an average of 49 days, up from 46 days in December . Still, there isn’t much more inventory than before: at the current pace of sales, it would take 3.9 months to exhaust available supply.
R: Federal Reserve policymakers on Wednesday gave little sense of how long their "patient" stance on U.S. interest rate policy would last, and while promising "before too long" a plan for their $4 trillion balance sheet, left unclear what that plan would entail.
BB:The U.S. is asking China to keep the value of the yuan stable as part of trade negotiations between the world’s two largest economies, a move aimed at neutralizing any effort by Beijing to devalue its currency to counter American tariffs, people familiar with the ongoing talks said.
FX: The NAHB February Housing index was better than expected at 62 vs 58 in January, as ongoing reduction in mortgage rates in recent weeks coupled with continued strength in the job market are helping to fuel builder sentiment.
BB: The February investor confidence in Germany’s economic outlook improved slightly for a fourth straight month to -13.4 vs -13.6 in January , hinting at a modest pickup in momentum in the coming months. While the index recorded its longest streak of improvements since early 2015, the negative reading means pessimists still outnumber optimists among survey participants.
BB: German economic growth is likely to remain subdued at least through the first half of the year as deteriorating business expectations threaten to hamper company investment -- yet there’s no reason for concern, according to the Bundesbank.
Economic Reports for the Week ending Friday February 22, 2019
Mon: President's Day - Some markets are closed  
Tue: 10:00 Feb NAHB Housing Index (C) better than est 62 vs 58  
Wed: 07:00 MBA Mortgage Index (2/16 +3.6% vs -3.7%
14:00 Jan FOMC Minutes  
Thur: 08:30 Initial Claims (2/16) lower than est 216K vs 239K
08:30 Dec Durable Goods Orders (C+) lower than est +1.2% vs revised up +1.0%
08:30 Feb Philadelphia Fed (B) Much worse than est -4.2 vs 17
10:00 Jan Existing Home Sales (C) less than est 4.94M vs revised up 5.00M
10:00 Jan Leading Indicators (C) lower than est -0.1% vs revised up 0.0%  
Fri: No scheduled economic reports  
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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