- Consumer Confidence fell from 65.9 to 62.3, lowest level since early 90’s.(Tuesday)
- FOMC Announcement-Fed lowered interest rates by .25%, to 2%. ,
- NAPM Chicago Index came in at 48.3. The report also showed that increasing costs of raw materials continues to be a problem. MBA Purchase Applications fell 4.8%.
- GDP came in at an annualized rate of 2.6% barely keeping us out of the official recessiondefinition.
- Employment Cost Index rose .7% in the 1st quarter, meaning real wages are not rising very much.(Wednesday)
- Jobless Claims, came in at 380,000, jumping by 35,000.
- ISM Manufacturing Index steady at 48.6 pointing to a slight contraction in business conditions.
- Personal Income and Outlays Personal income came in at .3% and consumer spending at .4%(Thursday)
- Employment Situation-The unemployment rate fell from 5.1 to 5.0%.(non-farm payrolls)(Friday)
- Bonds…2 year 2.45%, 5 yr. 3.17% and the 10 yr. 3.86%.
- Crude oil finished at $116.32 per barrel, despite some strength in the dollar.
