Summary U.S. equities saw a substantial rebound in April. However, domestic manufacturing experienced a record contraction in production along with a steep decline in new orders. This was caused by the combination of massive business closures and sharp declines in household demand for both goods and services. Business confidence fell due to uncertainties around the […]
Summary U.S. equities saw a steep decline in February. Uncertainty around the impact on the global economy from the spread of the coronavirus sent U.S. equities further into negative territory for the year. Domestic manufacturing production deteriorated in the month as producers struggled with falling export sales and supply chain delays. In February, consumer confidence […]
SUMMARY U.S. equities returns were slightly negative in January. The U.S. manufacturing sector saw modest deterioration during the month, caused by a drop in export orders. However, business expectations improved, supported by North American and Chinese trade deals. In December, 145,000 jobs were added, and the unemployment rate remained unchanged at 3.5%. Consumer confidence also […]
SUMMARY U.S. equities returns were negative for the month of August. U.S. manufacturing PMI continued its decline with new order exports falling at the sharpest rate in almost a decade. The decline in exports was in part due to rising tensions of a trade war and tariffs triggering softer client demand overseas. Consumer confidence dipped […]
SUMMARY U.S. equities posted positive returns in July. An advanced estimate of real gross domestic product showed an increase of 2.1% in the second quarter, a slowdown from the 3.1% rate in the first quarter. The deceleration reflected a downturn in inventory, exports, and nonresidential fixed investment. In June, 224,000 jobs were added and the […]
SUMMARY U.S. equities rallied in June. The third estimate showed first quarter real gross domestic product increased at an annual rate of 3.1%, up from the 2.2% increase in the fourth quarter 2018. The unemployment rate held steady at 3.6%, with 75,000 jobs added in May. U.S. manufacturing PMI showed a negligible improvement in June […]
SUMMARY U.S. equities saw a significant downturn in May. The breakdown of U.S.-China trade negotiations and new tariffs on Mexico’s imports brought fears of a slowdown in global growth. U.S. manufacturing PMI fell to levels not seen since September 2009, with new orders falling for the first time since August 2009. Businesses emphasized trade tension […]
SUMMARY U.S. equities were meaningfully higher in April. Advance estimates of real GDP increased by an annualized rate of 3.2% in the first quarter. Elevated inventories, improving trade, and government spending were positive contributors to GDP, but growth is not expected to remain at these levels throughout the year. The unemployment rate remained essentially unchanged […]
SUMMARY U.S. equities were positive in March and finished the first quarter with the best returns in seven years. Real GDP increased by an annualized rate of 2.2% in the fourth quarter, a downward revision from the 2.6% initial estimate. The unemployment rate ticked down to 3.8% in February in part due to furloughed federal […]
SUMMARY U.S. equities continued to rally through the month of February. Real GDP increased by an annualized rate of 2.6% in the fourth quarter. The deceleration in growth from the third quarter (3.4%) was partly due to a decrease in government spending during the government shutdown. The shutdown also contributed to the uptick in the […]
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