Stock Market Nerd Macro – April 27, 2024

Stock Market Nerd Macro – April 27, 2024

Output Data:

• The Manufacturing Purchasing Managers Index (PMI) for April was 49.9 vs. 52.0 expected and 51.9 last month.
• The Services PMI for April was 50.9 vs. 52.0 expected and 51.7 last month.
• Core Durable Goods Orders M/M for March rose by 0.2% vs. 0.3% expected and 0.1% last month.
• Durable Goods Orders M/M for March rose by 2.6% vs. 2.5% expected and 0.7% last month.

Consumer & Employment Data:

• Continuing Jobless Claims were better than expected and fell from 1.796M to 1.781M vs. the last report.
• New Home Sales for March were 693,000 vs. 668,000 expected and 637,000 last month.
• Michigan Consumer Expectations and Sentiment for April both missed and fell M/M.

Inflation Data:

• The Personal Consumption Expenditures (PCE) Price Index for March rose by 0.3% as expected and compared to 0.3% last month.
• The Core PCE Price Index for March rose by 0.3% as expected and compared to 0.3% last month.
• Michigan 1-year inflation expectations came in at 3.2% for April vs. 3.1% expected and 2.9% last month. 5-year expectations came in at 3% for April as expected and compared to 2.8% last month.