Michigan Consumer Sentiment Breakdown
Highlights:
-University of Michigan consumer sentiment for the US fell to 67.4 in May 2024 from 77.2 in April, the lowest in six months.
-Both current conditions (68.8 vs 79 in April) and expectations (66.5 vs 76) declined.
-Concerns about inflation, unemployment, and interest rates moving unfavorably in the coming year.
-Year-ahead inflation expectations rose to 3.5% from 3.2% last month.
Long-run inflation expectations...

Earnings for the week of 5/6 to 5/10
Monday
AM: $TSN
PM: $PLTR
Tuesday
AM: $DIS, $BP, $DDOG
PM: $OXY, $WYNN
Wednesday
AM: $UBER, $SHOP
PM: $ABNB, $ARM
Thursday
AM: $RBLX

Key Events This Week 5/6 to 5/10
Monday
Fed Barkin, Williams Speech
Tuesday
Consumer Credit Change
Fed Kashkari Speech
Wednesday
Fed Jefferson, Cook Speech
Thursday
Initial/Continuing Claims
Friday
Michigan Consumer Sentiment
Fed Bowman, Goolsbee, Barr Speech

Nonfarm Payrolls/Unemployment Rate Breakdown
Highlights:
-Total nonfarm payroll employment increased by 175,000 in April 2024, although this marked a deceleration from the robust growth observed in March.
-Despite the slowdown, job gains were notable in key sectors such as healthcare, social assistance, and transportation and warehousing.
-The unemployment rate moved up slightly to 3.9%, indicating overall stability in the labor market.
-Average hour...

Apple ( $AAPL ) Earnings Breakdown
Highlights:
-Quarterly revenue: $90.8 billion, down 4% year over year.
-Quarterly earnings per diluted share: $1.53.
-Record revenue in Services segment, reaching an all-time high.
-Launch of Apple Vision Pro showcasing the potential of spatial computing.
-Anticipation for an exciting product announcement and Worldwide Developers Conference.
-Active installed base of devices achieves a new all-time high across all products an...

Amazon ( $AMZN ) Earnings Breakdown
Highlights:
-Earnings reported 0.98 vs estimated 0.84 (+16.44%)
-Revenue reported 143.31b vs estimated 142.65b (+0.46%)
-Net Sales Increase: Amazon's net sales for the first quarter of 2024 rose by 13% compared to the same period in 2023, reaching $143.3 billion.
-Operating Income Surge: Operating income soared to $15.3 billion, a significant increase from $4.8 billion in the first quarter of 2023.
-Segment Sales Growth: Nor...

CB Consumer Confidence Breakdown
Highlights:
- The Conference Board Consumer Confidence Index dropped to 97.0 in April 2024 from a downwardly revised 103.1 in March.
- The Present Situation Index declined to 142.9 in April from a downwardly revised 146.8 in March, while the Expectations Index fell to 66.4 from a slightly upwardly revised 74.0.
- Confidence among consumers of all age groups and almost all income groups declined in April, with households with incom...

PCE Breakdown
Highlights:
-Core PCE prices in the US rose by 0.3% in March 2024, in line with expectations, maintaining the same pace as February.
-Personal income increased by 0.5% in March, surpassing the previous month's increase of 0.3% and meeting market expectations.
-Personal spending saw a growth of 0.8% in March, surpassing market expectations of a 0.6% increase.
Spending on goods surged by 1.3%, while spending on services rose by 0.6%.
-The personal consumption expenditur...

GDP Breakdown
Highlights:
-US Economy Growth: The US economy expanded by 1.6% in Q1 2024, marking a slowdown for the second consecutive quarter.
-Drivers of Growth: Increases in consumer spending, residential and nonresidential fixed investment, and state and local government spending were the main drivers, partially offset by a decrease in private inventory investment.
-Imports: Import levels also increased during this period.
GDP Deflator: The GDP deflator increased by 1.7% to a ...