Succinct Summation of Week’s Events 3.18.16

March 18, 2016 4:00pm by

Succinct Summations for the week ending March 18th 2016

Positives:

1. The S&P 500 gained 1% for the fifth consecutive week for the first time since April 2009.
2. Retail sales less autos and gas rose 0.3%, in line with expectations.
3. Core CPI rose 0.3% m/o/m or the second straight month.
4. Housing starts came in at 1.178mm SAAR, slightly above expectations.
5. Jobless claims remain low, coming in at 265k.
6. Consumer sentiment came in at 90, slightly lower than expected but still strong.
7. JOLTS came in at 5.541mm, down from 5.607mm previously.

Negatives:

1. Retail sales fell 0.1% m/o/m, in line with expectations but below the 0.2% rise previously.
2. Housing permits came in at 1.167mm SAAR, well below the 1.204mm expected.
3. Industrial production fell 0.5% m/o/m, down from the 0.9% previous rise.
4. MBA mortgage composite index fell 3.3% y/o/y.

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