Reply To: Traders Market Weekly: Cracks Widen in China and Emerging Markets


April Adv. Intl. Trade in Goods -$99.4 bln; Prior was revised to -$92.3 bln from -$91.8 bln
April Adv. Retail Inventories 0.7%; Prior was revised to 0.1% from 0.3%
April Adv. Wholesale Inventories 0.2%; Prior -0.4%
Weekly Initial Claims 219K (consensus 219K); Prior was revised to 216K from 215K; Weekly Continuing Claims 1.791 mln; Prior was revised to 1.787 mln from 1.794 mln

The key takeaway from the report is that there wasn’t any notable change in initial jobless claims. They continue to comply with a generally solid labor market, the idea of which will comply with the market’s soft landing outlook.

Q1 GDP – Second Estimate 1.3% (consensus 1.3%); Prior 1.6%; Q1 GDP Deflator – Second Estimate 3.0% (consensus 3.1%); Prior 3.1%

The key takeaway from the report is the weakening in consumer spending activity, yet it should be noted that the 2.0% growth was in-line with average for the prior eight quarters. In other words, spending was weaker than the fourth quarter, but not weak enough to alter the market’s soft landing outlook.

April Pending Home Sales -7.7% (consensus -0.5%); Prior was revised to 3.6% from 3.4%