Economic indicators

Bullard addresses coronavirus and the economy, University of Michigan consumer expectations drop.

Inflation remains low, while initial jobless claims continue improving, but the coronavirus pandemic looms large.

While financial and economic shocks can't be prevented altogether, certain factors can worsen the shock, according to Federal Reserve Bank of Boston President Eric Rosengren.

The Conference Board's Employment Trends Index (ETI) gained to 97.57 in October from 96.33 in September, but remains 11.1% lower than a year ago, the group announced Monday.

The October employment report was stronger than predicted, with a 638,000 rise in nonfarm payrolls and a full percentage point decline in the unemployment rate, suggesting the economy continues to improve despite the rise in the number of COVID-19 cases.

Both the ADP employment report and the ISM services PMI came in below estimates, suggesting weakness in the recovery.

The economy will bounce back and stimulus will be provided no matter who is in charge, R.J. Gallo says.

Municipals were weaker in the 10-year range by as much as one basis point on Monday as all eyes fixate on election results.

No one expects any change to the fed funds rate target when the Federal Open Market Committee meets on Wednesday and Thursday, but that doesn’t mean there’s nothing to watch for.

Personal income increased 0.9% in September after a 2.5% decline in August, the Commerce Department reported Friday, while personal consumption grew 1.2% after a 0.7% gain in August.

Gross domestic product surged in the third quarter's first read, but analysts suggest the rising number of coronavirus cases bodes ill for fourth quarter growth.

Consumers cut back on purchasing plans, suggesting they see a tough fourth quarter, economists said.

The economic news was mixed again Monday, with home sales unexpectedly dipping, while two reads of manufacturing showed expansion continued, but one suggested a slower rate of growth.

Jobless claims fell to below 800,000, existing home sales soared, leading indicators rose more than expected and the Kansas City Fed manufacturing index also climbed in the latest reading.

Housing starts and building permits both rose in September, as the housing market remains the "best part of the U.S. economy."

Despite "robust" progress, it will take "some time" for the economy to return to pre-pandemic levels, according to Fed Vice Chair Richard Clarida.

The economic news Friday was mostly positive, with consumers spending on clothes, cars and eating out, while manufacturing continues to suffer.

Initial jobless claims rose in the latest week, while the Empire State manufacturing index slipped, and the Philadelphia Fed's rose.

Although progress has been made, a full economic rebound from the COVID-19 pandemic won't come soon, Federal Reserve Vice Chair Richard Clarida said.

The consumer price index has been rising for four months but at a slower pace, as the cost of food remains "elevated."