Wells Fargo Weekly Economic & Financial Commentary – September 18, 2015 Failure to Launch · The Federal Reserve left the federal funds target rate unchanged at its September FOMC meeting, but lowered its forward guidance for the next few years and long term. · Retail sales rose solidly during August, even though lower gasoline prices […]
Continue ReadingWells Fargo Weekly Economic & Financial Commentary – September 4, 2015 Horseshoes, Hand Grenades and FOMC Mandates The headline print of 173,000 new jobs in August was below consensus expectations for 217,000. Although after accounting for revisions which added 44,000 jobs to the prior two months, the latest job market read was more in-line with […]
Continue ReadingWells Fargo Weekly Economic & Financial Commentary – August 28, 2015 Markets Whipsawed, but the U.S. Economy Is Stable Fears that economic activity in China is much weaker than reported rattled global financial markets during the week. The VIX, which gauges equity market volatility, jumped to its highest level since late-2011. At the same time, […]
Continue ReadingWells Fargo Weekly Economic & Financial Commentary – August 21 2015 U.S. Economy Keeps on Trucking The housing recovery remains on track with existing home sales rising 2.0 percent in July and starts continuing to rise. Early readings on the manufacturing sector for August were mixed, but on balance suggest activity in the factory sector […]
Continue ReadingWells Fargo Weekly Economic & Financial Commentary – August 14, 2015 Economic Conditions Still Moving on Up The Job Openings and Labor Turnover Survey (JOLTS) continued to show an improving labor market. Hiring increased during the month, while the hiring and job opening rate held steady. Headline retail sales also advanced during the month. Although […]
Continue ReadingWells Fargo Weekly Economic & Financial Commentary – July 31, 2015 Never A Dull Moment Durable goods orders rose solidly in June, thanks largely to continued strength in commercial aircraft orders. Consumer confidence surprised to the downside, tumbling 8.9 points to 90.9 in July. The FOMC meeting policy statement showed the Fed still firmly moving […]
Continue ReadingWells Fargo Weekly Economic & Financial Commentary – July 24, 2015 Housing Market Still Showing Strength June existing home sales increased 9.6 percent from a year ago. Other housing market metrics have also pointed to expansion. Median existing home prices are up 6.5 percent from a year ago and new home sales are 18.1 percent […]
Continue ReadingWells Fargo Weekly Economic & Financial Commentary – July 17, 2015 Data Support the Case for Sub Two Percent Q2 Growth Retail sales posted a 0.3 percent decline in June while May’s reading was downwardly revised, suggesting less consumer spending for the second quarter. Industrial production posted a 0.3 percent increase in June; however the […]
Continue ReadingWells Fargo Weekly Economic & Financial Commentary – July 10, 2015 Economic Growth in the U.S. Moving Along The ISM nonmanufacturing composite index rose in June and continues to show an economy that is relying on improvement in the service sector to boost overall activity. Job openings in May were consistent with the moderate gain […]
Continue ReadingWells Fargo Weekly Economic & Financial Commentary – July 2, 2015 Sparklers, not Fireworks, in June Jobs Report Employers added 223,000 new jobs in June, while the unemployment rate fell to 5.3 percent. Although nearly within striking distance of the Fed’s range for full employment, June’s decline was largely driven by another drop in the […]
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