00:00Let's get you some data. Mike McKee has the latest. Morning Mike. Good morning John. Everybody keeping an eye on
00:05jobless claims. Isn't going to get a whole lot of information. No change almost. 209000 last week a revised 212.
00:12So we're really not seeing many changes there. And the continuing claims number 1 million 782 thousand just up a
00:20little bit from 1776 the week before. The interesting thing is Bloomberg Economics has a piece out that suggests that
00:28maybe
00:29jobless claims are being distorted by efforts by states to cut down on fraud. And that's why we're not getting
00:36a comparative rise in jobless claims. But we'll just have to keep an eye on that. Philadelphia Fed is out
00:41and the Philly Fed number goes to negative point zero four from twenty six point seven. A big drop. Prices
00:50paid at forty seven nine. That is down from fifty nine three. Surprisingly and prices
00:59received at twenty six point three. That's down from thirty three point five. So a little bit of an odd
01:05number there in terms of the pricing numbers. And housing starts come in at one million four hundred and sixty
01:11five thousand down from one million five hundred and seven. That's a two point eight percent drop. Building permits up
01:18by five point eight percent. We'll see if that translates into actually anything. What people are really going to be
01:24watching guys is a little bit later this morning we get the S&P Global U.S.
01:27manufacturing PMI services and composite. Those will be the preliminary numbers for May. And we saw downturns in Europe when
01:36those numbers came out as the war starts to take a turn on the economies. And we'll see if we
01:42get that same result here.
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