Stock Market Nerd Macro – May 25, 2024

Third-Party Content. Provided for informational purposes only. Not investment advice or a recommendation to buy or sell any security. See disclosure here.

Stock Market Nerd Macro – May 25, 2024

Consumer & Employment:

  • Existing Home Sales for April came in at 4.14 million vs. 4.21 million expected.
  • Initial Jobless Claims were 215,000 vs. 220,000 expected and 223,000 last report.
  • Michigan Consumer Expectations and Sentiment for May both sharply fell M/M, but also both beat expectations.

Output:

  • The Manufacturing Purchasing Managers Index (PMI) for May was 50.9 vs. 50 expected and 50 last month.
  • The S&P Global Composite PMI for May was 54.4 vs. 51.1 expected and 51.3 last month.
  • The Services PMI for May was 54.8 vs. 51.2 expected and 51.3 last month.
  • Core Durable Goods Orders rose 0.4% M/M in April vs. 0.1% growth expected.
  • Durable Goods Orders rose 0.7% for April vs. -0.9% expected and 0.8% last month.

Inflation:

  • Michigan 1 year inflation expectations for May were 3.3% vs. 3.5% expected and 3.2% last report. 5 year expectations were also stable M/M at 3.0% vs. 3.1% expected.

Disclaimer: Third party content is provided for informational purposes only and should not be construed as an offer to sell or a solicitation of an offer to buy or sell any security. Third party content is not intended to serve as a recommendation to buy or sell any security and is not intended to serve as investment advice. Third party content creators are not affiliated with BBAE Holdings LLC, (“BBAE”) Redbridge Securities LLC (“Redbridge Securities”) or BBAE Advisors LLC (“BBAE Advisors”). All investments involve risk, including the possibility of total loss of principal. For additional important information, please click here.

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