Succinct Summation of the Week’s Events 12.23.16

December 23, 2016 4:00pm by Barry Ritholtz

Succinct Summations for the week ending December 23rd, 2016

Positives:

1. Q3 GDP was revised up to 3.5%, from 3.2% earlier.
2. New home sales rose 5.2% to a 592k annualized rate.
3. Consumer confidence hit a new cycle high of 98.2 in December.
4. Orders for defense aircrafts doubled last month, rising 103%. Core capital goods (non defense ex-aircraft) rose 0.9%.
5. MBA mortgage applications rose 2.5% w/o/w, despite increasing mortgage rates.
6. Existing home sales rose to a 5.61M SAAR, up 0.7% m/o/m and 15.4% y/o/y.

Negatives:

1. Personal income was unchanged in November, below the expected 0.3% rise.
2. Jobless claims rose 21k to 275K.
3. Durable goods fell 4.6% m/o/m and 1.9% y/o/y.
4. Corporate profits rose 4.3% y/o/y, below the 5.2% expected increase.
5. PMI services flash fell from 54.7 to 53.4 (still near a 12-month high)

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