🔥The 9th Round of Easy Loan, Earn $40 Reward is in progress❗️ ⏰ Promotion Period: January 15th - Feburary 15th, 2025 👉 Register now and check more details at gate.io/campaigns/358

Services a key contributor to PPI's decline in April, falling by 0.7% m/m ... goods (orange) flat after a large decline in March

Adjusted for ISM methodology, ⁦Philadelphia Fed⁩ Manufacturing Index rose to 51.2 in May

Trend in finished consumer goods portion of PPI #inflation has eased considerably, with 3-month annualized change dropping to -7.85% in April

Adjusted for ISM methodology, Empire Manufacturing Index rose to 51.1 in April

Services spending not slowing down ... 3m average of monthly change in bar and restaurant retail sales rose above +1.2% in April

Factory production fell by 0.4% m/m in April ... not a large decline relative to history but first drop in six months

Trend in prospective buyers traffic not showing any signs of improvement per ⁦NAHB 🏠⁩ Housing Market Index ... component fell to 23 in May, marking a new low for 2025

MA breadth charts updated thru yesterday’s close

Performance: index tables and Mag7 chart/table updated thru yesterday’s close

Performance: sectors/indexes yesterday and MTD/YTD

April housing starts +1.6% m/m vs. +3% est. & -10.1% prior (rev up from -11.4%) … building permits (orange) -4.7% vs. -1.2% est. & +1.9% prior (rev up from +0.5%)

New cycle low in May for capex component in NY Fed's Services Index

May ⁦New York Fed⁩ Services Index up to -16.2 vs. -19.8 prior … employment slipped into contraction while wages deteriorated; business climate component improved a bit (but is still in contraction)

Services business leaders are telling the NY Fed that their outlooks for the next 6 months are essentially as bad as they were during the depths of the pandemic

Our latest #OnInvesting podcast episode has dropped on which Kathy Jones and I riff on markets, and Kathy sits down with our colleague Cooper Howard to discuss all things munis schwab.com/learn/story/wh…

Here's the Dow with and without $UNH. Quite a difference!

May ⁦University of Michigan⁩ Consumer Sentiment index down to 50.8 vs. 53.5 est. & 52.2 prior … current conditions down to 57.6; expectations down to 46.5

As of May, ⁦University of Michigan⁩ 1y inflation expectations up to 7.3% vs. 6.5% prior … 5-10y inflation expectations up to 4.6% vs. 4.4% prior

GDPNow model from ⁦Atlanta Fed⁩ at +2.4% (q/q ann.) for 2Q2025 … strength driven by consumer spending and business investment … net exports and private inventories subtracting most at this point