Miércoles 01/07/20 Reporte del empleo privado

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Miércoles

Eventos económicos

Reporte del empleo privado
Índice Markit the manufactura
ISM manufacturero
Gasto en construcción
Minutas del Fed
Ventas de autos
ADP employment report June -- -2.76 million
9:45 am Markit manufacturing index (final) June -- 49.6
10 am ISM manufacturing index June 50.2% 43.1%
10 am Construction spending May 0.7% -2.9%
2 pm FOMC minutes
Varies Motor vehicle sales June 13.0 million 12.

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184.61 1.87
Japan: Nikkei 225 22246.20 -41.94 -0.19
UK: FTSE 100 6169.74 -56.03 -0.90
Crude Oil Futures 39.75 0.48 1.22
Gold Futures 1799.70 -0.80 -0.04
Yen 107.69 -0.24 -0.22
Euro 1.1240 0.0005 0

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1.54
China: Shanghai Composite 2998.98 14.30 0.48
Japan: Nikkei 225 22246.20 -41.94 -0.19
UK: FTSE 100 6169.74 -56.03 -0

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CHG %CHG
Crude Oil Futures 39.75 0.48 1.22
Brent Crude Futures 41.68 0.41 0.99
Gold Futures 1799.70 -0.80 -0.04
Silver Futures 18.635 -0.002 -0.01
DJIA Futures 25593 -96 -0.37
S&P 500 Futures 3081.75 -8.45

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LAST CHG %CHG
Crude Oil Futures 39.74 0.47 1.20
Brent Crude Futures 41.68 0.41 0.99
Gold Futures 1799.80 -0.70 -0.04
Silver Futures 18.645 0.008 0.04
DJIA Futures 25587 -102 -0.40
S&P 500 Futures 3081.25 -8.95 -0.29
Currencies11

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A private survey shows China’s manufacturing activity beat expectations in June
PUBLISHED TUE, JUN 30 20209:50 PM EDTUPDATED MOMENTS AGO
Huileng Tan
@HUILENG_TAN
The Caixin/Markit manufacturing Purchasing Manager’s Index came in at 51.2, beating expectations.
PMI readings above 50 indicate expansion, while those below that level signal contraction.
While overall manufacturing demand recovered at a fast clip, overseas demand remained a drag, said Wang Zhe, senior economist at Caixin Insight Group
Chart compares the actual reading of Caixin/IHS Markit China manufacturing PMI with what's expected by analysts in a Reuters poll
Results of a private survey released on Wednesday showed China’s manufacturing activity expanded and beat expectations in June, hitting its highest level since December 2019.

The Caixin/Markit manufacturing Purchasing Manager’s Index came in at 51.2. Economists polled by Reuters were expecting 50.5, as compared to 50.7 in May.


PMI readings above 50 indicate expansion, while those below that level signal contraction. The monthly PMI readings are sequential.

“The manufacturing sector continued to expand, as most of the country had the epidemic under control and the economy continued to recover,” said Wang Zhe, senior economist at Caixin Insight Group in a press release.

While overall manufacturing demand recovered at a fast clip, overseas demand remained a drag, Wang wrote.

“New export orders continued to fall amid weak external demand, as the epidemic situation overseas remained uncertain in many places and the number of new daily infections remained high,” he said.

But overall demand “improved remarkably” he noted. The subindex for total new orders expanded for the first time since January, as gradual lifting of epidemic control measures allowed production to resume.


Even though supply and demand both improved in June, the employment subindex remained in negative territory for the sixth straight month, and was even weaker than in May.

“Manufacturers remained cautious about increasing hiring,” said Wang.

China on Tuesday said manufacturing activity expanded in June with the official PMI coming in at 50.9, but the country’s statistics bureau said there still are headwinds caused by the economic fallout from the coronavirus pandemic.

Capital Economics said the results of two surveys support the view that China’s GDP growth likely turned positive from a year ago in the second quarter.

“We continue to anticipate a stronger recovery in the coming quarters than the analyst consensus,” said Martin Rasmussen, a China economist at the research firm.

The gauge for new export orders in the Caixin/Markit survey also improved and shows that export growth is stabilizing.

“One explanation is that the Caixin survey is skewed more towards private firms, who tend to be overrepresented in sectors such as textiles (including masks), electronics and medical products, sectors which have benefitted from strong demand for COVID-related products in recent months,” wrote Rasmussen in a note after the release of the survey results.

The private Caixin/Markit survey features a bigger mix of small- and medium-sized firms. In comparison, the official PMI survey typically polls a large proportion o

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LAST CHG %CHG
Crude Oil Futures 40.08 0.81 2.06
Brent Crude Futures 42.05 0.78 1.89
Gold Futures 1795.50 -5.00 -0.28
Silver Futures 18.550 -0.087 -0.47
DJIA Futures 25457 -232 -0.90
S&P 500 Futures 3070.75 -19.45 -0.63
Currencies7

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LAST CHG %CHG
Euro (EUR/USD) 1.1196 -0.0040 -0.36
Japanese Yen (USD/JPY) 107.48 -0.45 -0.42
U.K. Pound (GBP/USD) 1.2398 -0.0004 -0.03
Swiss Franc (USD/CHF) 0.9484 0.0011 0.12
Chinese Yuan (USD/CNY) 7.0658 0.0003 0.00
U.S. Dollar Index 97.51 0

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) YIELD CHG
U.S. 10 Year 0.678 0.024
Germany 10 Year -0.407 0.047
U.K. 10 Year 0.206 0.033
Japan 10 Year 0.052 0.019
Australia 10 Year 0.945 0.066
China 10 Year 2.933 0

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https://lta.reuters.com/articulo/econom ... AKBN2423XO

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United plans to add 25,000 flights in August as customers ‘are slowly returning’
PUBLISHED WED, JUL 1 20207:00 AM EDT
Leslie Josephs
@LESLIEJOSEPHS
United’s 25,000 additional flights still bring its August 2020 schedule to just 40% of flights in 2019.
United and other carriers are grappling with how to cater to an uptick in demand with the impact of Covid-19.
The airline is also increasing international flights, with destinations including Lima, Shanghai and Frankfurt.
A United Airlines Boeing 737 passenger jet takes off at San Antonio International Airport in Texas.
A United Airlines Boeing 737 passenger jet takes off at San Antonio International Airport in Texas.
Robert Alexander
United Airlines is planning to add about 25,000 flights in August, hoping to capitalize on an uptick in air travel, particularly to leisure destinations ranging from Bozeman, Montana, to Bangor, Maine.

The Chicago-based carrier and its competitors are seeing an uptick in travel demand from the five-decade lows hit in April as the Covid-19 pandemic took hold in the U.S.


“While travel demand remains a fraction of what it was at the end of 2019, customers are slowly returning to flying, with a preference for leisure destinations, trips to reunite with friends and family, and getaways to places that encourage social distancing,” United said in its announcement on Wednesday.

Even with the increase in flights, United will be flying about half of its August 2019 domestic capacity and a quarter of the international service it operated last year. In comparison, this month it plans to fly about 30% of its domestic service as the same month last year, and just 16% of international service, the airline said.

The virus, and the measures taken to try to stop it from spreading, have shuttered key tourist attractions and prompted stay-at-home orders, devastating air travel. The number of people passing through U.S. airport security checkpoints in June was around a fifth of last year’s levels, according to the latest federal data.

It was not immediately clear whether United would tweak its plans for additional trans-Atlantic service because the European Union continues to bar Americans from travel amid the pandemic.

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Macy’s reports first-quarter loss, says does not expect ‘another full shutdown’
PUBLISHED WED, JUL 1 20207:17 AM EDTUPDATED 20 MIN AGO
Lauren Thomas
@LAURENTHOMAS
Macy’s reported a first-quarter adjusted loss per share of $2.03 on revenue of $3.02 billion.
“We do not anticipate another full shutdown, but we are staying flexible and are prepared to address increases in cases on a regional level,” CEO Jeff Gennette said Wednesday.
Macy's at Valencia Town Center Mall opens for curbside pickup service during COVID-19 outbreak on May 21, 2020 in Santa Clarita, California.
Macy’s at Valencia Town Center Mall opens for curbside pickup service during COVID-19 outbreak on May 21, 2020 in Santa Clarita, California.
Robin L Marshall | Getty Images
Macy’s on Wednesday said it swung to a first-quarter loss, in line with the retailer’s previously announced estimates, as its business took a hit from the coronavirus pandemic and its sales were nearly cut in half.

Chief Executive Jeff Gennette said in a statement that nearly all of the company’s stores have since reopened and are performing ahead of expectations this month, but did not provide any other further details. He added that the department store chain continues to expect a “gradual sales recovery.”


“We do not anticipate another full shutdown, but we are staying flexible and are prepared to address increases in cases on a regional level,” he said.

Macy’s shares were falling around 1% in premarket trading.

Here’s how the company did during its fiscal first quarter endi’ed May 2:

Loss per share: $2.03, adjusted
Revenue: $3.02 billion
Macy’s reported a net loss of $3.58 billion, or $11.53 per share, compared with net income of $136 million, or 44 cents a share, a year ago. Excluding one-time charges, it lost $2.03 per share.

Revenue declined to $3.03 billion from $5.50 billion a year ago.

Analysts have been calling for Macy’s to report a loss of $2.03 per share on revenue of $3.01 billion, according to Refinitiv data.

Macy’s had previously on May 21 pre-announced its first-quarter earnings.

Macy’s is not offering a 2020 outlook at this time.

Macy’s shares as of Tuesday’s market close had fallen nearly 60% this year. The company has a market cap of $2.1 billion.

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F edEx stock rallies 9% as online shopping sprees boost company’s quarterly results.

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June private payrolls rose 2.37 million and there was a big positive revision for May, ADP says
PUBLISHED WED, JUL 1 20208:15 AM EDTUPDATED 14 MIN AGO
Jeff Cox
@JEFF.COX.7528
@JEFFCOXCNBCCOM
Private payrolls rose by 2.369 million in June, a bit below the 2.5 million estimate from economists surveyed by Dow Jones, according to ADP.
May’s number saw a stunning revision, going from an initially reported loss of 2.76 million to a gain of 3.065 million.
Hospitality industry workers saw the biggest gain, with 961,000 hires, while small businesses overall added 937,000.
WATCH NOW
VIDEO03:16
Private payrolls rise 2.37 million in June, ADP reports
Companies in June continued to bring workers back from their pandemic furlough as the national economy slowly came back to life.

Private payrolls grew by 2.369 million for the month, a bit lower than the 2.5 million expectation from economists surveyed by Dow Jones, according to a report Wednesday from ADP and Moody’s Analytics.


The total actually represented a decline from the previous month, which saw a dramatic upward revision to 3.065 million. ADP initially said May saw a loss of 2.76 million. The firm did not immediately explain the massive shift.

For June, hiring was especially strong in the pivotal leisure and hospitality industry, which took the biggest hit as measures aimed at curbing the coronavirus spread meant shutting down most bars and restaurants across the country. The sector added 961,000, by far the biggest gain in any industry.

“Small business hiring picked up in the month of June,” said Ahu Yildirmaz, vice president and co-head of
the ADP Research Institute. “As the economy slowly continues to recover, we are seeing a significant rebound in industries that once experienced the greatest job losses.”

In addition to the big gains in hospitality, construction — another hard-hit industry — added 394,000 and manufacturing rose by 88,000. The goods sector in total saw a net gain of 457,000 positions.

On the services side, which grew by 1.912 million, other big gainers were trade, transportation and utilities (288,000), education and health services (283,000), and the “other services” category (215,000). Professional and businesses services added 151,000 and financial activities, which includes Wall Street jobs, was up 65,000.


Small businesses added 937,000 to lead industries by size. Companies with 500 or more workers were up 873,000 while medium-sized firms added 559,000.

The ADP count comes the day before the Labor Department releases its official nonfarm payrolls count for June. Economists are looking for a gain of 2.9 million after May’s 2.5 million jump, a number that contrasted sharply with the ADP count and shattered Wall Street estimates of an 8 million job loss.

The volatile numbers point up how difficult estimating the jobs situation is amid an economy struggling to get back to normal following the coronavirus-inducted shutdown. The national unemployment rate was a 50-year low 3.5% prior to the shutdown and is now 13.3%.

Even as jobs seem to be coming back, states are still trying to catch up with claims for unemployment insurance. That weekly number also comes out Thursday and is expected to indicate another 1.38 million new claims even as jobs on net are brought back. The discrepancy is part a backlog at the state level and possible counting errors under a special program targeted at pandemic-related claims, according to a Bloomberg News report Wednesday.

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LAST CHG %CHG
DJIA 25915.62 102.74 0.40
S&P 500 3113.33 13.04 0.42
Nasdaq Composite 10082.81 24.05 0.24
Japan: Nikkei 225 22121.73 -166.41 -0.75
UK: FTSE 100 6181.91 12.17 0.20
Crude Oil Futures 39.62 0.35 0.89
Gold Futures 1778.40 -22.10 -1.23
Yen 107.50 -0.43 -0.40
Euro 1.1248