Stock Market Nerd Macro – January 20, 2024
Production Data:
- NY Empire State Manufacturing Index for January was -43.7. This compares to -5 expected and -14.5 last month.
- The Philly Fed Manufacturing Index for January was -10.6. This compares to -7 expected and -12.8 last month.
- Industrial Production M/M for December rose 0.1%. This compares to 0% growth expected and 0% growth last month.
- Housing Starts for December were 1.460 million. This compares to 1.426 million expected and 1.525 million last month.
Consumer/Employment Data:
- Core Retail Sales M/M for December rose 0.4%. This compares to expectations of 0.2% growth and 0.2% growth last month.
- Retail Sales M/M for December rose 0.6%. This compares to expectations of 0.4% growth and 0.3% growth last month.
- Continuing Jobless Claims were 1.806 million. This compares to 1.845 million expected and 1.832 million in the last report.
- Initial Jobless Claims were 187,000. This compares to 207,000 expected and 203,000 last month.
- Existing Home Sales M/M for December grew by -1.0%. This compares to 0.3% growth expected and 0.8% growth last month.
Inflation Data:
- Michigan 1-year Inflation Expectations for January were 2.9%. This compares to 3.1% expected and 3.1% last month.
- Michigan 5-year Inflation Expectations for January were 2.8%. This compares to 3.0% expected and 2.9% last month.
- Michigan Consumer Expectations for January came in at 75.9. This compares to 67.0 expected and 67.4 last month.
- Michigan Consumer Sentiment for January came in at 78.8. This compares to 70 expected and 69.7 last month.
