CONSUMER BORROWING RISES IN JULY as Americans
racked up credit card debt surging 11.2 percent. Additionally, borrowin
g increased at the
fastest rate in almost 2 years
. Overall consumer credit growth clocked in a
t
6.8 percent up from 4.1 percent in June
.
Home purchasing sentiment ticks higher as mortgage rates fall upon global uncertainty,
“We do expect housing market activity to remain relatively stable, and the favorable rate environment should continue supporting increased refinance activity,”
Fannie Mae chief economist Doug Duncan.
The 10-year note rose 7.8 basis points
.
S&P -0.17%,
DOW +0.07,
NASDAQ -0.56%.
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INVESTMENT GRADE BONDS ROSE AGAINST ITS HIGH YIELDING COUNTERPARTS in net prices linked to actual trades. The U.S. adds a dismal 130,000 jobs in August, the smallest increase in three months falling short of ADP’s report of nearly 200,000 jobs. The 10-year note lost 0.2 basis points. S&P+0.23%, DOW +0.39, NASDAQ +0.10%.
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INVESTMENT GRADE BONDS ROSE AGAINST ITS HIGH YIELDING COUNTERPARTS
in net prices linked to actual trades. The U.S. adds a
dismal 130,000 jobs in August
, the smallest increase in three months falling
short of ADP’s report of nearly 200,000 jobs.
The 10-year note lost 0.2 basis points
.
S&P+0.23%,
DOW +0.39,
NASDAQ
+0.10%
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U.S. SERVICES SECTOR REPORTED ACCELERATED ACTIVITY in August as the economy added nearly 200,000 jobs according to ADP. The ISM for non-manufacturing activity index which accounts for two-thirds of U.S. economic output advanced to 56.4 from 53.7. “While we don’t think that the government data will be as strong as the ADP data, the strength in the ADP report eases some concerns about downside risks in the labor market associated with the recent drop in business sentiment.” The 10-year note spiked by 9.7 basis points. S&P +1.30%, DOW +1.41, NASDAQ +1.75%.
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U.S. SERVICES SECTOR REPORTED ACCELERATED ACTIVITY in August as the economy added
nearly
200,000 jobs according to ADP
. The ISM for non-manufacturing activity index which accounts for two-thirds of U.S. economic output advanced to 56.4 from 53.7.
“
While we don’t think that the government data will be as strong as the ADP data, the strength in the ADP report eases some concerns about downside risks in the labor market associated with the recent drop in business sentiment.”
The 10-year note spiked by 9.7 basis points
.
S&P
+1.30%,
DOW +1.41,
NASDAQ
+1.75%.
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U.S. TRADE GAP SHRANK IN JULY as exports rebound causing the deficit to decline by 2.7 percent. Industrial supplies lead the drop in imports falling by 7.4 percent month over month. “The ongoing trade war between the world’s largest economies has hurt China perhaps more than the U.S. but a few signs of a slowdown have now emerged in the U.S. too.” The 10-year note lost 0.4 basis points. S&P+0.84%, DOW +0.68, NASDAQ +1.09%.
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U.S. TRADE GAP SHRANK IN JULY
as exports rebound causing the deficit to decline by 2.7 percent. Industrial supplies lead the drop in
imports falling by 7.4 percent month
over month.
“The ongoing trade war between the world’s largest economies has hurt China perhaps more than the U.S. but a few signs of a slowdown have now emerged in the U.S. too.”
The 10-year note lost 0.4 basis points
.
S&P+0.84%,
DOW +0.68,
NASDAQ
+1.09%.
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U.S. MANUFACTURING CONTRACTED IN AUGUST falling below the pivotal reading of 50 indicating contraction within the manufacturing sector. “(The ISM data) was confirmation that manufacturing has been in a decline since reaching a peak a year ago,” Pavlik added. “It’s not a great sign, not the kind of sign you want to see in a slowing economy.” Weakening global economies and trade tensions are starting to show effects on the US economy. The 10-year note dipped 2.7 basis points. S&P -0.64%, DOW -1.02, NASDAQ -1.01%.
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U.S. MANUFACTURING CONTRACTED IN AUGUST
falling below the pivotal reading of 50 indicating
contraction
within the manufacturing sector.
“(The ISM data) was confirmation that manufacturing has been in a decline since reaching a peak a year ago,”
Pavlik added
. “It’s not a great sign, not the kind of sign you want to see in a slowing economy.”
Weakening global economies and
trade tensions
are starting to show effects on the US economy.
The 10-year note dipped 2.7 basis points
.
S&P -0.64%,
DOW-1.02,
NASDAQ
-1.01%.
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U.S. SPENDING IMPROVED IN JULY, a signal consumers are confident with the shape of the economy opening their wallets. “Even with elevated policy uncertainty and financial market turbulence, the U.S. consumer continues to display great vitality, emboldened by a large savings buffer.” Spending rose 0.6 percent last month accounting for more than two-thirds of U.S. economic activity. The 10-year note advanced 1.3 basis points. S&P -0.17%, DOW -0.10, NASDAQ -0.46%.
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