brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 On Sunday, progress toward ending the longest government shutdown on record gained momentum, as eight Democrat lawmakers joined Republicans in advancing a funding measure. While the shutdown remains in effect for now, it is expected to conclude this week, paving the way for […]

brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The release of government data has been suspended due to the government shutdown. Investors still have access to economic data through private sources that may not be as holistic as government reports but can still offer a glimpse into the economy. The University […]

brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The number of job openings grew to 7.22 million in August, leaving roughly one open job for every unemployed person in the U.S. – a sign that the labor market remains healthy. The total number of job quits fell slightly, signaling employee confidence […]

brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 US Retail sales rose 0.6% in August, the same as July’s upwardly revised gain and stronger than the 0.2% increase expected, with spending led by non-store retailers, clothing, and restaurants. Core retail sales, which exclude autos, gas, food services, and building materials, which […]

brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The Producer Price Index (PPI) surprised significantly to the downside in August, falling 0.1% – in contrast to the consensus forecast calling for a 0.3% increase – after spiking higher in July. Headline producer prices are up 2.6% from a year ago. “Core” […]

brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The ISM Manufacturing Index rose to 48.7 in August but lagged the consensus expectation of 49.0. (Levels above 50 signal expansions, while levels below 50 signal contraction.) This marked the sixth consecutive month of contraction for the index. However, the major measures of […]

brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The number of housing starts in July beat expectations and increased 5.2% month-over-month (MoM) to an annualized rate of 1.428 million, which marked the highest reading in five months. Multi family home starts rose 9.9% over the last month while single family homes […]

brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The Consumer Price Index (CPI), which is a broad measure of inflation, rose roughly in line with expectations. Core CPI, which excludes the volatile food and energy categories, came in slightly higher than expected, driven by the cost of services. Headline inflation rose […]

brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The ISM Non-Manufacturing (or Services) Index declined to 50.1 in July, lagging both the consensus expectation of 51.5 and the previous month’s reading of 50.8. July’s figure trailed even the most pessimistic forecast from any economics group surveyed by Bloomberg. (Levels above 50 […]