Dan Celia: March, April and May’s Numbers are One-Offs Amid some Economic Optimism
May 26, 2020
PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia sees the economic data for the last three months, including May, as one-offs as we wait for signals of economic growth and stimulus.
“There are a fair amount of April and even March numbers out this week,” Celia said. “I’ll be honest with you, I’m not paying attention to any of those. I’m considering all of those a one-off. Just like I’m considering May’s numbers as one-offs as well, until we start to see some real economic growth or stimulus.”
Celia pointed out that the GDP number and jobless claims are the two numbers all economists will be watching for this week.
“Initial job claims for Thursday will be a big number,” Celia said. “Everybody will watch for that to see if we can get below 2.9 million, which I suspect we will. We also get on Thursday the second estimate or the second look at GDP growth for the first quarter. Really, the GDP number and initial jobless claims are going to be the two numbers everybody is watching. On Friday, we get consumer sentiment. That’s a final number for the month of May.”
Celia went on to express the shocking reminder that we are already heading into the last month of the second quarter for 2020 amid some global optimism outweighing the concerns of new and growing tensions with China.
“Hard to believe we’re heading into the last month of the second quarter already,” Celia continued. “Absolutely amazing. One thing that is happening globally right now is there is some optimism over reopening and global stocks seem to be a little bit higher and that is outweighing any concerns over escalating tensions with China. Yes, with China. Apparently, many are warning that there will likely be a cold war once again between the U S and China. The two economic giants could be on a collision course over phase one of the trade agreement. This will be another interesting week. It’s a short trading week, of course. We’ll see how it goes.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.
Read more about Celia, FISM and “Financial Issues” or visit the FISM website, its Facebook page, on YouTube at Financial Issues with Dan Celia or on Twitter @financialissues; download the FISM app here.
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