Succinct Summations for the week ending October 20th, 2017
1. S&P 500 closed at a new all-time high every day this week. This hasn’t happened since 1998.
2. Industrial production rose 0.3% m/o/m, above the 0.2% expected increase. The previous reading of -0.9% was revised up to -0.7%.
3. Jobless claims fell from 243k to 222k. The 4-week moving average fell from 257.75k to 248.25k.
4. Existing home sales rose for the first time in 4 months to a 5.39M annualized rate.
5. Philly Fed rose from 23.8 to 27.9, well above the 20.2 expected.
6. Housing starts rose to a 1.127M SAAR, above the 1.17M expected.
1. Leading indicators fell 0.2% m/o/m, below the 0.1% expected increase.
2. Import prices rose 0.7% m/o/m (0.2% excluding petroleum and food), above the 0.5% expected increase.