Economic Updates

Keep up to date on the global economy and its impact on markets.

Stocks are on their feet again, but not ready to run

Stocks are on their feet again, but not ready to run

Q3 2020 | Capital Markets Outlook

Despite progress on the virus, we think the markets may stay unsettled and we favor reducing overall risk.

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Bonds ride the Fed wave as volatility returns

Q3 2020 | Fixed Income Outlook

Global financial markets proved to be surprisingly resilient during the second quarter.

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Mid-year insights: Assessing the risks

Q3 2020 | Equity Outlook

We discuss the potential impact of a second wave of the coronavirus and we offer insights on how businesses are faring as COVID-19 restrictions are eased.

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Economic Update for August 3, 2020

Economy
  • Durable goods orders increased 7.3% in June, the Census Bureau stated.
  • Pending home sales surged 16.6% in June, the National Association of Realtors found.
  • U.S. GDP decreased at an annual rate of 32.9% in the second quarter, according to an advance estimate by the Bureau of Economic Analysis.
Employment
  • Initial jobless claims reached 1,434,000 in the week ended July 25, 2020, the Department of Labor announced.
Profits
  • As of July 23, 2020, of the 127 S&P 500 Index companies reporting second-quarter earnings, 103 beat analysts’ estimates, according to S&P Dow Jones Indices.
Emotion
  • The Conference Board Consumer Confidence Index declined in July.
  • The University of Michigan’s index of consumer sentiment fell to 72.5 in July from 78.1 in June.