Economic Data Rekindles Stagflation Fears
Economic Data Rekindles Stagflation Fears: Start a free trial of The Sevens Report.
What’s in Today’s Report:
- Economic Data Rekindles Stagflation Fears
- Durable Goods Orders Decline Sharply
- Continuing Jobless Claims Hit Multi-Year High
- Consumer Sentiment Reveals Rising Inflation Worries
Futures are little changed in thin trading following the Thanksgiving holiday. This comes as investors digest mixed economic data from Europe and the new Chinese stimulus efforts aimed at shoring up the nation’s embattled real estate sector.
Economically, German GDP fell -0.4% vs. (E) -0.3% Y/Y. However, the Eurozone PMI Composite Flash firmed to 47.1 vs. (E) 46.7 which helped ease some concerns about an imminent, sharp drop off in economic growth in the EU.
Looking into today’s session, focus will be on the one potentially market-moving economic report due this morning: PMI Composite Flash (E: 50.3) as there are no Fed speakers or Treasury auctions scheduled for the day.
The NYSE will close early today at 1:00 p.m. ET in observance of the Thanksgiving holiday.
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