US Macro Daily(Beta Mode)
Home Sales Miss, PPI Softens
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| S&P 500 | 7,041.28 | +0.26% |
| Nasdaq 100 | 26,333.00 | +0.49% |
| Dow Jones | 48,578.72 | +0.24% |
| Russell 2000 | 2,719.60 | +0.22% |
| USD/JPY | 159.15 | +0.22% |
| EUR/USD | 1.18 | -0.09% |
| GBP/USD | 1.35 | -0.37% |
| Gold | 4,807.90 | +0.47% |
| WTI Crude | 87.99 | -7.08% |
| Bitcoin | 75,275.00 | +0.16% |
| US 2Y Treasury | 3.76% | +0.00% |
| US 10Y Treasury | 4.29% | +0.70% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| Existing Home Sales | 4.1m | 4.1m | 4.0m |
| Existing Home Sales Month-over-Month | 2.70 | - | -3.60 |
| Speech by Fed's Miran | - | - | - |
| ADP Employment Change Weekly | 26,000 | - | 39,000 |
| Producer Price Index Month-over-Month | 0.50 | 1.10 | 0.50 |
| Core Producer Price Index Month-over-Month | 0.30 | 0.50 | 0.10 |
| Fed Goolsbee Speech | - | - | - |
| Speech by Fed's Barr | - | - | - |
| Speech by Fed's Collins | - | - | - |
| API Weekly Crude Oil Stocks | 3.7m | -1.3m | 6.1m |
US Producer Price Index | Type: macro_line | PPI Index: 6.025 (2026-03-01) | Range: -9.417–22.69 | Trend(6pt): 19.25,17.44,-3.346,0.1404,2.38,6.025
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| Speech by Fed's Barkin | - | - | 08:15 |
| Speech by Fed's Waller | - | - | 10:00 |
- Existing home sales fell short of expectations, signaling housing market weakness amid high rates.
- Producer prices showed mixed results, with core PPI below consensus, easing inflation fears.
- Equity markets edged higher despite oil plunge, supported by manufacturing strength.
Yesterday's Recap
US existing home sales disappointed at 3.98 million units, below the 4.06 million consensus and down 3.6% month-over-month, reflecting persistent affordability challenges from elevated mortgage rates. Producer Price Index rose 0.5% month-over-month, matching prior but missing the 1.1% forecast, while core PPI increased just 0.1% against 0.5% expected, suggesting cooling input costs. NY Empire State Manufacturing Index surged to 11.0, beating the -0.5 consensus and prior -0.2, indicating regional factory rebound on new orders.
ADP Employment Change rose to 39,000 weekly, exceeding prior 26,000, pointing to labor market resilience. Import prices grew 0.8% month-over-month versus 2.0% consensus, and export prices hit 1.6% near 1.5% expected, with MBA 30-Year Mortgage Rate dipping to 6.42% from 6.51%. API Weekly Crude Oil Stocks rose to 6.1 million barrels, above consensus draw of -1.3 million, contributing to oil price pressures.
Equity indices advanced modestly: S&P 500 up 0.26% to 7,041.28, Nasdaq 100 up 0.49% to 26,333.00, Dow Jones up 0.24% to 48,578.72, and Russell 2000 up 0.22% to 2,719.60. Treasuries sold off with 10-year yield rising 0.70% to 4.29%, USD/JPY gaining 0.22% to 159.15, while WTI crude tumbled 7.08% to 87.99 on inventory builds and global demand concerns.
The Day Ahead
Focus shifts to Fed speaker insights, with Barkin scheduled at 8:15 AM ET, potentially offering views on policy amid recent data. Additional events may include housing and manufacturing indicators, such as potential Philadelphia Fed Manufacturing Index release, building on regional strength. Markets will monitor for impacts on yields, dollar, and rate cut probabilities, with attention to any emerging details on jobless claims or other labor metrics.
Broader sentiment could be influenced by ongoing global news, including energy and geopolitical developments.
Other Economic Notes
US economy shows resilience with unemployment at 4.30% and CPI YoY at 2.31%, bolstering soft-landing prospects despite housing softness. Steady employment gains support consumer spending, but high rates pressure real estate and small firms. States are accelerating clean energy projects to leverage expiring federal incentives, aiming to cut costs and address power price concerns.
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