by Calculated Risk on 7/05/2022 09:01:00 PM

Wednesday:
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• 10:00 AM, Job Openings and Labor Turnover Survey for May from the BLS. Jobs openings decreased in April to 11.400 million from 11.855 million in March.

• Also at 10:00 AM, the ISM Services Index for June.   The consensus is for a reading of 54.5, down from 55.9.

• At 2:00 PM, FOMC Minutes, Meeting of June 14-15, 2022

On COVID (focus on hospitalizations and deaths):

COVID Metrics
	Now	Week Ago	Goal
Percent fully Vaccinated	66.9%	---	≥70.0%1
Fully Vaccinated (millions)	222.3	---	≥2321
New Cases per Day3	94,345	113,184	≤5,0002
Hospitalized3	23,459	26,162	≤3,0002
Deaths per Day3	295	340	≤502
1 Minimum to achieve "herd immunity" (estimated between 70% and 85%). 2my goals to stop daily posts, 37-day average for Cases, Currently Hospitalized, and Deaths 🚩 Increasing 7-day average week-over-week for Cases, Hospitalized, and Deaths ✅ Goal met.

Click on graph for larger image.

This graph shows the daily (columns) and 7-day average (line) of deaths reported.

Average daily deaths bottomed in July 2021 at 214 per day.