ETF Action Research

 Macro Brief: Jobless Claims

11.25.2020

Initial jobless claims rise 30K week/week as labor market recovery slows

  • 778K initial claims above consensus estimates (est. 730K) and upn from last week's revised level (748K)
  • Continuing claims decreased 4299K to 6.071 million for week ending November 14
  • 9.433 million individuals claiming Pandemic Unemployment Assistance benefits  while 4.143 million claiming Pandemic Emergency Unemployment Compensation Benefits for the week ending October 24 (both up week/week)
  • Decline in jobless claims stalling out in the 700-800K level as labor market recovery loses steam

 Macro Brief: S&P Corelogic Case-Shiller HPI

11.24.2020

U.S. home prices accelerated at a "very" strong rate in September

  • S&P CoreLogic HPI 20-city index (SA) rose 6.6% Yr/Yr (vs est 5.4%)
  • National annual price gains of 7.0% greatest since 2014
  • Housing prices continue to be remarkably stable, all 19 cities saw price increases
  • Phoenix, Seattle, and San Diego reported the highest year-over-year gains among 19 cities
  • FHFA House Price Index data for September also above consensus estimates

 Macro Brief: Jobless Claims

11.20.2020

Jobless claims filings pick up as coronavirus surges

  • First time filings totaled 742k vs. Wall Street estimate of 710k
  • First week-over-week increase after four straight weeks of decline
  • Continuing claims fell by 429k to 6.37 million (data trails by 1-week)
  • Four-week moving average decreased 13.75k to 742k

 Macro Brief: Retail Sales

11.17.2020

October Retail Sales fall short of expectations but still up 5.7% year/year:

  • Headline up 0.3% vs. expectations of 0.5%, up 5.7% y/y
  • Core (ex-autos & gas) up 0.2% vs. 0.8% expected, up 6.5 y/y
  • Core misses included losses in clothing, sporting goods, furniture, and groceries
  • Gains in electronics, building materials, and nonstore retail 

 Macro Brief: Jobless Claims

11.12.2020

Initial jobless claims fall for fourth consecutive week as labor market continues slow recovery

  • 709K initial claims below consensus estimates (est. 737K) and down from last week's revised level (757K)
  • Continuing claims decreased 436K to 6.786 million for week ending October 31
  • 9.433 million individuals claiming Pandemic Unemployment Assistance benefits  while 4.143 million claiming Pandemic Emergency Unemployment Compensation Benefits for the week ending October 24 (both up week/week)
  • Jobless claims continue to trend lower but well above pre-panemic levels

 Macro Brief: JOLTS

11.10.2020

Job openings rise slightly in September at 6.436 million

  • 6.436 million job openings below estimated 6.508 million
  • Hires little changed at 5.9 million along with seperations at 4.7 million
  • Quits rate rises slightly to 2.1% while layoffs/discharges rate decreased to a series low of 0.9%
  • JOLTS report a lagging indicator but September reflective of ongoing economic activity

Sign Up