Market Analysis

US Treasury's are much stronger this morning but mortgage backed securities issued by Fannie Mae and Freddie Mac are only slightly improved.  Stocks opened negatively but have moved into positive territory.  

Below is a recap of this week's economic calendar:

Monday, August 16, 2010

• August NY Fed Empire State Manufacturing Index – 7.10 reading vs expectations for a 7.5 reading and up from a 5.08 reading in July
• August National Association of Home Builders Market Index – 13.0 vs expectations for a 14.0 reading and a reading of 14.0 for July

Tuesday, August 17, 2010

• July Housing Starts and Building Permits – Starts expected at an annualized pace of 555,000 units up from 549,000 units in June. Permits expected down to an annualized pace of 573,000 units from 583,000 in June.
• July Producer Price Index (PPI) – expected up .1% vs down .5% in June. Core PPI (excluding food and energy) expected up .1% unchanged from June.
• July Industrial Production and Capacity Utilization – Production expected up .6% vs up .1% in June. Capacity utilization expected at 74.5% vs 74.1% in June.

Wednesday, August 18, 2010

• No key economic data

Thursday, August 19, 2010

• Initial Jobless Claims for the Week Ended 8/14/10 – expected down to 475,000 from 484,000 the prior week.
• Continuing Jobless Claims for the Week Ended 8/7/10 – expected up to 4.5 million from 4.452 million the prior week.
• Conference Board July Leading Indicators – expected up .2% vs down .2% in June
• August Philadelphia Fed Business Index – expected up to 7.5 from 5.1 in July.

Friday, August 20, 2010

• No key economic data