Hard vs. Soft Data: A Growing Economic Disconnect
What’s in Today’s Report:
- Hard vs. Soft Data: A Growing Economic Disconnect
- Durable Goods and GDP Data Takeaways
U.S. equity futures are modestly lower in thin holiday trade as this week’s market advance to fresh all time highs is digested amid mostly quiet newswires.
Economically, Taiwan Industrial Production rose 16.42% in November, up from 14.5% in October but the data is having a limited impact on markets this morning.
Today, there is one noteworthy economic release ahead of the bell: Jobless Claims (E: 225K) and markets will be looking for ongoing resilience in the labor market via a steady to lower than expected headline print to help shore up soft landing hopes.
The Treasury will hold a 4-Week and 8-Week Bill auction at 11:30 a.m. ET and a 7-Yr Note auction at 1:00 p.m. ET, and as has been the case recently, the stronger the demand the better.
There are no Fed officials scheduled to speak today and no noteworthy earnings releases which will result in a likely quiet holiday trading session with the NYSE closing early at 1:00 p.m. ET.
