PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia will be paying close attention to the economic data coming out this week as the U.S. economy appears to be opening much slower than other economies around the globe.
Q1 2020 hedge fund letters, conferences and more
What To Expect From The U.S. Economy Opening Again
"We've got some interesting economic data coming out this week that we will be watching," Celia said. "First, there are housing numbers coming out for the month of May. We do know new home sales have to be up. New home mortgages were an 11-year high last week, and I expect that's going to continue with record-low 30-year mortgage rates. Also coming out this week is GDP revision. We were sitting squarely on a negative 5% GDP growth for the first quarter.
Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy Read More
"There are new numbers coming out indicating that the U.S economy is opening up far slower than the economies around the globe," he continued. "I would like to believe it's out of an abundance of caution. Or is it out of abundance of intentionally trying to keep our economy down as we get closer to the election? That is a topic I suspect I will be talking about for at least the next couple of weeks. It will be interesting if we can continue a week of positive gains this week—four in a row is what we're working on. I'd rather have some positive growth in the economy driving that, as opposed to just merely some optimism that there's going to be positive growth in the economy."
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program.