Weekly Macros - May 31st, 2020

Stocks finished the week strong on the back of Trump comments Friday afternoon. Despite his desire to "punish" China for Covid-19-related reasons, he reiterated that the Phase I trade deal would continue as planned.
New unemployment claims fell slightly over last week's numbers to 2.1M. Additionally, continuing claims dropped 3.86M from last week - a sign that some Americans are returning to work.
NMHC's Rent Payment tracker for May finished the month at 93.3%, just a 1.1% drop over numbers for May of 2019.
On the economic calendar & reporting this week: ISM Manufacturing Index (Mon. 10 AM ET), Weekly Jobless Claims (Thurs. 8:30 AM ET) & Unemployment Rate - May (Fri. 8:30AM ET).

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