Market Moment

The Baker Market Moment is your way to stay on top of the latest in economic events and market-moving news. Whether it’s the latest news from the Fed or the latest number from Wall Street, the Baker Market Moment is where you can find it.

Inflation Shows Signs of Life

In a report this morning, the BLS announced that, in July, the Producer Price Index rose by 0.6% against an expectation of just 0.3%. On a year-over-year basis, the twelve-month headline rate moved up to minus 0.4% as analysts expected a more negative minus 0.7%. At the core level, without

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Markets Mull Stimulus

It looks to be a quiet opening to the week as market participants weigh the potential effects of the President’s weekend executive orders temporarily extending some relief efforts and deferring payroll taxes for some. The resumption of negotiations among Congressional leaders has yet to be scheduled. It’s a light data

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Job Growth Beats Estimates

The Bureau of Labor Statistics reported this morning that, in July, 1.76M jobs were added to Non-Farm Payrolls. This was better than the 1.48M expected and was surprising to many after the ADP report earlier in the week missed big to the downside. Last month’s job creation helped the Unemployment

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Claims Data Beats Estimates

The BLS just reported that, for the week ending August 1st, 1.19M more people filed for first-time unemployment benefits. This was better than then the 1.4M that was forecast and better than the prior week’s 1.44M. For Continuing Claims, that total fell to 16.11M for the week ending July 25th

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Big Miss on Early Jobs Report

Just out this morning, the ADP private payroll report showed that businesses added 167k new jobs in July and that was a far cry from the 1.2M that analysts expected. But, the 2.37M total for June was revised to 4.31M. The BLS will issue its next, monthly report on Friday

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Bonds Up; Equities Off

Equity-centric financial markets are taking their cues from stock investors this morning as a string of disappointing earnings reports are getting the blame for today’s red arrows in the stock market. Bonds are the beneficiaries of the angst as the Ten-Year’s quarter-point rally has taken its yield down to around

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Good Euro News Seeps Into Domestic Markets

An overnight report showing that the Eurozone’s Manufacturing sector has returned to expansion for the first time in a year-and-a-half has pushed domestic equity futures higher while Treasury prices slip. Markit’s Manufacturing Purchasing Managers Index for the Euro-area rose in July to 51.8 from 47.4 the month prior and that

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Disinflation Pressures Eased Last Month

The Bureau of Economic Analysis released its Personal Consumption Expenditures report for June this morning and it showed that price levels recovered a little lost ground last month. The all-inclusive PCE Deflator rose by the expected 0.4% last month after only gaining 0.1% in May. That helped push June’s year-over-year

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Q2 GDP Was Pretty Gross

The Bureau of Economic Analysis reported this morning that second quarter GDP fell 32.9% and that was a slightly smaller plunge than the 34.5% pre-release estimate. Personal Consumption, the largest input to GDP, fell 34.6% and that was pretty close to what was forecast. Inflation in Q2 as measured by

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Markets Await Powell’s Presser

Today looks to be central-bank-centric as investors around the world wait to hear what Chairman Powell and the FOMC will tell us about what they think and what they think they’re going to do. Nothing is impossible, one supposes, but the likelihood of any cessation in relief and stimulative efforts

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Home Prices Rose Less Than Expected in May

The Case-Shiller Home Price report for May was just released this morning and shows that, in May, home prices rose less than experts had predicted. The 20-City Index recorded a very slight rise of 0.04% against an expected rise of 0.3%. On a year-over-year basis, the 20-City Index stands at

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China vs. USA Adds to Angst

As if investors didn’t have enough variables to deal with, the back-and-forth between the world’s two largest economies has devolved into reciprocal consulate closures and added another layer of uncertainty into an already uncertain world. Equity markets slipped in overnight trading and will likely begin their domestic trading day slightly

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Mixed News on Jobless Claims

The Bureau of Labor Statistics did what they do this morning and announced that, for the week ended July 18th, 1.42M Americans applied for first-time unemployment benefits. That was higher than the 1.3M that was forecast and also higher than the very slightly revised prior week’s total of 1.31M. Continuing

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Existing Home Sales Up Big in June

Existing Home Sales rose 20.7% in June to an annualized pace of 4.72M units. As robust as this activity was, it still fell slightly short of analysts’ expectations of a 4.75M annual pace. Less optimistic bounce-back news was reported by the FHFA with its House Price Index falling by 0.3%

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Rising Tension With China

The ongoing dispute between China and America over a variety of topics took a new turn with America’s order that China close its consulate in Houston. Chinese officials threaten retaliation. Treasury prices have moved a bit higher and that has pushed the Ten-Year’s yield slightly below 0.60%. Equity futures point

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