brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 January’s Personal Consumption Expenditures (PCE) report came in at +0.3% month-over-month (MoM) and +2.5% year-over-year (YoY), in line with estimates, driven by increases in service costs. Higher prices in housing, utilities and healthcare services contributed to the overall rise, while goods inflation remained […]
brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 Minutes from the January Federal Reserve (Fed) meeting and housing data highlighted a short and otherwise quiet week for economic data domestically. Abroad, however, a number of important geopolitical events – including a meeting between US and Russian officials in Saudi Arabia discussing […]
brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 January’s headline Consumer Price Index (CPI) reading increased 0.5% month-over-month (MoM) and rose 3.0% year-over-year (YoY). Both MoM and YoY headline data came in above expectations, driven higher by energy and food prices. Energy prices, which were largely deflationary last year, have risen […]
brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The Institute for Supply Management’s (ISM) manufacturing index increased by 1.7 points to 50.9 in January, signaling expansion for the first time since 2022. (Levels above 50 signal expansion; levels below contraction.) The growth was driven by a rise in new orders and […]
brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The Federal Reserve (Fed) met on Wednesday to set interest rate policy, deciding that the current level of rates was sufficient and held them steady. This move was largely anticipated by investors, who expected a pause in the rate-cutting cycle by Fed officials […]
brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The Conference Board Leading Economic Index (LEI) ticked down by 0.1% in December 2024 after an upwardly revised increase of 0.4% in November. Lower consumer confidence, relatively weak manufacturing orders, higher initial jobless claims, and declining building permits pushed the index lower. Despite […]
brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The Consumer Price Index (CPI) rose by 0.4% in December, meeting expectations and bringing the annual inflation rate to 2.9%. Over 40% of the monthly increase was driven by energy prices, highlighting the continued impact of volatile energy markets. Food, airfares, and auto-related […]
brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The Institute of Supply Management (ISM) Services Index in December beat consensus expectations and rebounded from November to 54.1, highlighting the strength in the services sector that continues to drive overall growth in the economy. The services index has been in expansion for […]
brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The ISM Manufacturing data was released for the month of December, and it showed the manufacturing sector continued its decline. The reading came in at 49.3, and any reading below 50 represents a contraction in the sector’s activity. Despite falling, the reading was […]