Succinct Summation of Week’s Events 3.25.16

March 25, 2016 5:00pm by

Succinct Summations for the week ending March 25th 2016

Positives:

  1. 3rd estimate for Q4 GDP came in at 1.4%, up from 1.0% previously reported.
  2. Jobless claims came in at 265k, with the previous week revised down to 259k.
  3. New home sales came in at 512k SAAR, up 2% in February.
  4. Bloomberg Consumer Comfort is still strong at 43.6.
  5. PMI services flash came in at 51, up from 49.8 previously.

Negatives:

  1. Existing home sales fell 7.1% m/o/m, coming in at a 5.080mm annualized rate, well below expectations.
  2. Durable goods orders fell 2.8% m/o/m, with the core component falling 1.8% m/o/m.
  3. MBA mortgage application composite fell 3.3% w/o/w.
  4. Stocks snapped their 5-week winning streak.
  5. PMI Manufacturing flash came in at 51.4, below the 52.4 expected.
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