Morning Market Briefing – John Person 8/27/2018

August 27, 2018
The S&P 500’s all-time high close Friday was its 15th of the year but its first since January 26, while the Dow is still 3.1 percent below its all-time high set the same day.

Economic Data Notes:
The national activity index will offer an overall assessment of July while the Dallas Fed will offer a manufacturing update for August.
• 830ET-Chicago Fed National Activity Index (expect .38) prior .43
• 1030ET-Dallas Fed Mfg Survey (28) prior 32.3
• 1ET-2y Note Auction

Earnings Notes:
There are no Notable earnings reports due out today.
Overnight Trade Notes:
• The MSCI Asia Pacific Index gained 1.1 percent
• Japan’s Topix index closed 1.2 percent higher as China’s central bank signaled support for the yuan and Fed Chair Jerome Powell’s comments at Jackson Hole were more dovish than expected.
• In Europe, the Stoxx 600 Index was 0.3 percent higher at 5:45 a.m. in a light trading session due to a U.K. holiday.
• S&P 500 futures pointed to a gain at the open.
• The 10-year U.S. Treasury yield was at 2.815 percent and gold held above $1,200 an ounce.

Calendar Notes:
Later in the week investors will get a look at the latest numbers on home prices, GDP, personal income and spending, and consumer confidence
• Aug 28: International Trade
• Aug 28: Consumer Confidence
• Aug 29: GDP
• Aug 29: Pending Home Sales
• Aug 30: Jobless Claims
• Aug 31: Chicago PMI
• Aug 31: Consumer Sentiment