Don’s Notebook June 25, 2018


New home sales have been housing’s central strength and unexpected weakness in today’s report would raise new questions over the sector’s contribution to the 2018 economy.

  • There has been a solid upward trend for new home sales and analysts expect a slight increase in May to a 665,000 annualized rate vs 662,000 in April.

Overnight Markets:

  • The MSCI Asia Pacific Index fell 0.8 percent and Japan’s Topix index closed 1 percent lower as trade concerns and worries about auto-tariffs weighed on markets.
  • In Europe, the FTSE 100, DAX, CAC 40 and Stoxx 600 Indexes are all priced lower with trade again being the major drag on stocks following a report from Germany’s Ifo institute.
  • S&P 500 futures pointed to a loss at the open, the 10-year Treasury yield was at 2.882 percent and gold was lower.

There are a few economic reports that may be of interest and there are also several housing reports. Expected earnings continue to be slow.

  • Jun 25: New Home Sales
  • Jun 26: Consumer Confidence
  • Jun 27: Durable Goods
  • Jun 27: International Trade
  • Jun 28: Jobless Claims
  • Jun 28: GDP
  • Jun 29: Personal Income
  • Jun 29: Consumer Sentiment

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