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 […]

brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The Consumer Price Index (CPI) increased by 0.3% month-over-month, which aligned with economists’ expectations. This increased the annual inflation rate to 2.7%, up from 2.6% in October. Core CPI, which excludes food and energy, also rose by 0.3% month-over-month, maintaining a 3.3% year-over-year […]

brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The Institute of Supply Management (ISM) Manufacturing Index beat consensus expectations in November and rose to 48.4, its highest reading since June. Despite a higher reading from October, the manufacturing index remains in contraction territory (a reading above 50 indicates expansion, and below […]

brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The Gross Domestic Product’s (GDP) second estimate was unchanged for the third quarter at a reading of 8% on an annualized basis. Consumer spending was revised slightly downward, but was offset by stronger non-residential investment, federal government spending, and inventories. Corporate profits, which […]

brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 Housing starts declined 1% last month to a 1.311 million annual rate, missing consensus expectations of 1.334 million for October. A 9% fall in single-family construction drove total starts lower, as multi-family starts rose in the month. Building in the South (the region […]

brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The NFIB Small Business Confidence index rose by 2 points to 93.7, matching its highest level since early 2022. Nine out of ten components improved with a significant 7-point rise in the outlook for business conditions, nearing a net-positive reading for the first […]

brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The Institute of Supply Management (ISM) released its October services purchasing managers' index (PMI). The headline composite index came in at 56.0, better than the forecast of 53.8. The latest reading moves the index back into expansion territory for the 50th time in […]