June US Philly Fed -3.3 vs +5.5 expected

• Prior was +2.6
• New orders -12.4 versus 22.1 last month
• Employment 28.1 versus 25.5 last month
• Six month capex 11.7 vs 9.6 last month
• Six month outlook -6.8 vs 2.5 last month
• Prices paid 64.5 versus 78.9 last month

It's really starting to look like a recession. Today we got this, a big disappointment in housing starts and even a small miss on jobless claims Jobless Claims Jobless claims are a weekly statistic reported in the United States that represents a key barometer for domestic employment. As one of the most closely watched US indicators, jobless claims carry a lot of weight in financial markets, namely forex and the stock market.Jobless claims are reported on a weekly basis by the Department of Labor. While painting a picture of the overall health of the economy, jobless claims can be broken down into two types.This includes initial jobless claims or person Jobless claims are a weekly statistic reported in the United States that represents a key barometer for domestic employment. As one of the most closely watched US indicators, jobless claims carry a lot of weight in financial markets, namely forex and the stock market.Jobless claims are reported on a weekly basis by the Department of Labor. While painting a picture of the overall health of the economy, jobless claims can be broken down into two types.This includes initial jobless claims or person Read this Term. This is the worst reading since the pandemic.

Notably, prices paid are still expanding but at a much slower pace. There's a risk the Fed is slamming on the brakes at a time when supply chains are easing and the market is doing much of the work for it.