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July Existing Home Sales: -1.3% to 5.44M vs. consensus 5.57M, 5.51M previous.
Initial Jobless Claims +2K to 234K vs. 237K consensus, 232K prior (unrevised).
Continuous Claims:flat at 1.954M vs. 1.954M.August Kansas City Fed Composite Index: +16, vs. +10 in July.
30-year fixed-rate mortgage averaged a YTD low 3.86% for the week ending Aug. 24, down from last week’s 3.89%, while the average 15-year fixed-rate mortgage remained unchanged at 3.16%, Freddie Mac reports in its latest weekly survey, citing falling Treasury yields amid concerns over lagging inflation.
US steel executives appeal directly to Trump for import restrictions
Senior executives from 25 U.S. steel and steel-related companies sent a letter to Trump saying the industry was suffering the consequences of government inaction.
But that this could change with his “bold leadership” and “America First” vision.
“The need for action is urgent. Since the 232 investigation was announced in April, imports have continued to surge,” the executives said in the letter.
At the close
Dow -0.13% to 21,782.90. S&P -0.21% to 2,438.98. Nasdaq -0.11% to 6,271.15.
Treasurys: 30-year -0.28%. 10-yr -0.18%. 5-yr -0.11%.
Commodities: Crude -1.55% to $47.66. Gold -0.24% to $1,291.59.
Currencies: Euro -0.06% vs. dollar. Yen +0.48%. Pound -0.01%.July Durable Goods:-6.8% vs. -5.8% expected, +6.4% prior (revised from +6.5%).
Core +0.4% vs. +0.5% expected, +0.0% prior (revised).The Atlanta Fed tracker sees Q3 GDP growth of 3.4%. That’s down from 3.8% seen about 10 days ago, and 4% guessed at three weeks ago. Sluggish industrial production and housing reports are behind the decline.
The Blue Chip consensus outlook is for about 2.75% growth.“Starting next week, the president’s agenda and calendar is going to revolve around tax reform,”
National Economic Council Director Gary Cohn told FT.CI you may want to blog about this
software update made some Samsung TV models unusable
https://www.cnet.com/news/samsung-working-on-firmware-fix-for-european-tv-ownersAt the close
Dow +0.16% to 21,818.69. S&P +0.18% to 2,443.32. Nasdaq -0.09% to 6,265.61
Treasurys: 30-year +0.28%. 10-yr +0.14%. 5-yr +0.07%.
Commodities: Crude +0.78% to $47.80. Gold +0.35% to $1,296.54.
Currencies: Euro +1.04% vs. dollar. Yen -0.26%. Pound -0.56%.
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