1. Economic Calendar August 28, 2015 to September 1, 2015 Jacob Nielsen

2. GDP Q2 (Aug 27 th ) Most significant measure of economic growth Total growth rate of economic output Lagging indicator Real GDP (adjusted for inflation) increased.6% up from.4% in the previous quarter DateTimeStatisticForActualMarket ExpectsPriorSentiment 27-Aug8:30 ET GDP-Second EstimateQ23.7%3.1%2.3% Very Good

3. Personal Income Measures income from all sources Largest component is wages and salaries Both an indicator of economic growth and future consumer spending Not an indicator of consumption but rather possible consumption DateTimeStatisticForActualMarket ExpectsPriorSentiment 28-Aug8:30 ETPersonal IncomeJul0.4% Neutral

4. PCE Personal Consumption Expenditure Inflationary measure broken down into 3 parts: durables, nondurables, and services Differs from CPI in the fact that the index is a chain index that accounts for changing consumer behavior rather than fixed basket of goods DateTimeStatisticForActualMarket ExpectsPriorSentiment 28-Aug8:30 ET PCE Prices- CoreJul0.1% Neutral

5. PCE Continued Purchases of Durables: +1.3% compared to a decrease of.9% in June Purchases of Non-Durables: +0.1% (same as June) Purchases of Services: +0.1% compared to.2% in June)

6. Michigan Consumer Sentiment Survey conducted by University of Michigan that asks consumers about expectations of the overall economy Indicator of how consumers feel about the economy Downside is that it’s a regional survey (even though Michigan is a major manufacturing region) DateTimeStatisticForActualMarket ExpectsPriorSentiment 28-Aug8:30 ET Michigan SentimentAug91.993.092.9Negative

7. Chicago PMI Chicago Purchasing Manager’s Index Regional manufacturing survey that measures manufacturers sentiment Survey is important because it is released just prior to the national ISM index reading Surveys a variety of managers and asks them to indicate if performance is better, worse, or neutral compared to previous quarter

8. Chicago PMI Continued DateTimeStatisticForActualMarket ExpectsPriorSentiment 31-Aug9:45 ETChicago PMIAug54.454.7 Negative

9. ISM Index Survey conducted by Institute of Supply Management of 300 manufacturing firms Asks managers about general sentiment with regards to employment, production, supplier deliveries, and new orders A number greater than 50 indicates growth, and any number less than 50 indicates contraction DateTimeStatisticForActualMarket ExpectsPriorSentiment 1-Sep10:00 ETISM IndexAug51.1052.6052.70Negative

10. Construction Spending Shows change in layout for construction spending across residential, non-residential, and public projects Measure is extremely volatile month to month so the indicator is not a great measure of economic progress Quarterly trends much more valuable measure DateTimeStatisticForActualMarket ExpectsPriorSentiment 1-Sep 10:00 ET Construction SpendingJul0.7%0.5%0.7%Positive

11. Yuan/USD

12. Euro/USD

13. USD/Yen

14. Oil Futures

15. Oil 5 Day

16. Oil Cont. Oil continues to be extremely volatile Was up nearly 8 percent yesterday on news that US inventories had decreased and OPEC was to hold conference focusing on solutions to the oil price Energy markets will continue to follow with the oil price volatility

17. 10 Year Treasury

18. Fed Jackson Hole Summit Concerned with volatility in foreign markets September rate hike unlikely Main question focuses on inflation rate Dollar will continue to strengthen against other currencies putting upward pressure on inflation already Seems that a rate hike may be closer to December

19. Chinese Markets Chinese manufacturing purchasing manager’s index fell to three year low World continues to doubt prospective economic output of the world’s second largest economy Will this cause china to devalue currency even further?

20. S&P 5 Day