Author: Zac Martin, Investment Associate
Weeks Ending April 17th – “Be Open to the Future”
Empire State Index decline for the April report led by a decline in new orders and shipments. Supply availability worsened and inventories continued to expand, while price inputs and selling prices accelerated to their fastest pace in two years. Generally, firms expect conditions to worsen in the months ahead as pessimism peaks to historically high levels.
Retail Sales for March reported a positive surprise, beating analyst estimates. Retail Sales increased 1.4% month-over-month, increasing from 0.22% in the previous month’s report. All categories within the report increased month-over-month.
NAHB Housing Market Index for April was slightly higher than analyst expectations, sentiment increased to 40 from 39. Despite the increase in current sales conditions, sales expectations for the next six months fell four points.
The Week Ahead:
- Leading Economic Indicators (4/21)
- Richmond Fed Index (4/22)
- New Home Sales & Building Permits (4/23)
- Chicago Fed Activity Index & Kansas City Fed Manufacturing Index (4/24)
- Earnings: GE, NOC, MMM, GPC, VZ, TSLA & BKR (4/22) BA, NSC, T, ODFL, CMG & TXN (4/23) DOW, MRK, VLO, CBRE, BMY, PG, KDP, CMCSA, GOOGL, INTC, TMUS & DLR (4/24)
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