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  • Article / 20 minutes ago

    US Stocks: Choppiness reaches 17-year high

    Trader /
    United States
    US Stocks: Choppiness reaches 17-year high
    Another week went by and US stocks pushed marginally higher again, at least as measured by the benchmark S&P 500 index (SPX.I). As such the game of musical chairs continues until equity investors stop reacting to stimulus-enforcing central banks. I am focusing on two major economic data prints coming up in the next few weeks, the anticipation of which could serve to hold up US stocks... at least until those data points have come and gone.
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  • Squawk / 1 hour ago
    Head of Macro Strategy / Saxo Bank
    US new home sales, consumer confidence rise:

    Consumers in the world's largest economy are getting more upbeat about their situation, according to the Conference Board's May report. The headline confidence index rose to 95.4 from 94.3 (revised down from 95.2) beating expectations of 95. While the May report was better than expected, it is worth keeping in mind that the index stood at 103.8 back in January, so there is still some way to go before a new cyclical high is reached.

    In another report we learned that new home sales rose by 6.8% in April, faster than the 5% expected, resulting in 517,000 sales last month vs. 484,000 in March.

    Lastly, the Richmond Federal Reserve released its May manufacturing index, which printed 1 vs. 0 expected and -3 prior as new orders bounced back to 2 from -6 while shipments gained 5 points to -1.
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  • Calendar event / 1 hour ago

    US Consumer Confidence Index

    Med Consumer Confidence Index
    Med Expectation Index
    Med Present Situation Index
  • Calendar event / 1 hour ago

    US New Residential Sales

    Med Overall Sales
    Med Months' Supply
    Med Percent Change