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Thursday: Unemployment Claims, Philly Fed Mfg, Existing Home Sales


• At 8:30 AM ET, The initial weekly unemployment claims report will be released.  The consensus is for 265 thousand up from 262 thousand last week.

• Also at 8:30 AM, the Philly Fed manufacturing survey for August. The consensus is for a reading of -5.0, up from -12.3.

• At 10:00 AM, Existing Home Sales for July from the National Association of Realtors (NAR). The consensus is for 4.88 million SAAR, down from 5.12 million last month.
On COVID (focus on hospitalizations and deaths):

Hospitalizations have almost quadrupled from the lows in April 2022.

COVID Metrics  NowWeek
AgoGoal New Cases per Day298,940107,899≤5,0001 Hospitalized235,13937,092≤3,0001 Deaths per Day2398426≤501 1my goals to stop daily posts,
27-day average for Cases, Currently Hospitalized, and Deaths
🚩 Increasing 7-day average week-over-week for Cases, Hospitalized, and Deaths
✅ Goal met.
Click on graph for larger image.

This graph shows the daily (columns) and 7-day average (line) of deaths reported.

Average daily deaths bottomed in July 2021 at 214 per day.

FOMC Minutes “Participants anticipated that this slowdown in housing activity would continue”

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