Stock Market Nerd Macro – January 27, 2024
Output and Consumption Data:
- The Manufacturing Purchasing Managers Index (PMI) for January was 50.3. This compares to 47.9 expected and 47.9 last month.
- The Services PMI for January was 52.9. This compares to 51.0 expected and 51.4 last month.
- Core Durable Goods Orders M/M for December rose by 0.6%. This compares to 0.2% growth expected and 0.5% growth last month.
- Durable Goods Orders M/M for December rose by 0%. This compares to 1.1% growth expected and 5.5% growth last month.
- Q4 GDP reading currently sits at 3.3% vs. 2.0% expected and 4.9% last quarter.
Employment Data:
- Initial Jobless Claims were 214,000. This compares to 200,000 expected and 189,000 last report.
Inflation Data:
- Personal Consumption Expenditures (PCE) Index Y/Y for December came in at 2.6%. This was as expected and vs. 2.6% last month.
- Core (excludes food & energy) PCE Y/Y for December came in at 2.9%. This compares to 3.0% expected and 3.2% last month.
- PCE M/M for December came in at 0.2% as expected. This compares to -0.1% last month.
- Core PCE M/M came in at 0.2% as expected. This compares to 0.1% last month.
- The GDP Price Index Q/Q for Q4 rose by 1.5%. This is better than the 2.3% growth expected and 3.3% growth last quarter.
