Succinct Summations of the Week’s Events 12.30.16

December 30, 2016 4:00pm by

Last Succinct Summations (of the year) for the week ending December 30th, 2016

 

Positives:

  1. Stocks wrapped up their eighth consecutive annual gain, second longest streak of all-time.
  2. Consumer confidence rose to 113.7, the highest reading since August 2001!
  3. Case-Shiller’s 20-city index rose 0.6% m/o/m. The west coast is leading the way with a 10.7% and 10.3% y/o/y increase in Seattle and Portland.
  4. Jobless claims remain low, falling to 265k from 275k previously.
  5. The Richmond manufacturing index rose from 4 to 8.
  6. Dallas Fed manufacturing production survey rose from 8.8 previously to 13.8.
  7. Bloomberg Consumer Comfort Index remains strong, coming in at 46.

 

Negatives:

  1. Looks like Dow 20,000 will have to wait until next year.
  2. Pending home sales fell 2.5% m/o/m, coinciding with the rise in mortgage rates.
  3. The State Street Investor Confidence Index fell from 98.9 to 94.2.

 

 

Thanks, Mike!

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