Succinct Summation of Week’s Events 1.22.16

Succinct Summations for the week ending January 22nd, 2016

Positives:

  1. After three straight weeks of selling, stocks get a reprieve, finishing positive on the week.
  2. Existing home sales came in at a 5.46mm annualized rate, up 14.7% m/o/m.
  3. MBA mortgage applications composite rose 9% w/o/w.
  4. Bloomberg’s consumer comfort index came in at 44, down just slightly despite the lousy January for stocks.
  5. Manufacturing PMI came in at 52.7, up from 51.3 previously.

Negatives:

  1. CPI still not budging, -0.1% m/o/m, core CPI rose 0.1%.
  2. Housing starts came in at an annualized 1.149mm rate in December, down 2.5% from the previous reading.
  3. Jobless claims rose came in at 293k, the 4-week moving average is up to 285k, from 278.5k previously.
  4. Housing permits fell to 1.232mm SAAR, a 3.9% m/o/m decline.

 

 

 

 

 

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