Succinct Summations for the week ending May 19th, 2017.
1. The index of leading indicators rose 0.3%.
2. Initial jobless claims fell to 232k, the 4-week moving average fell to 240.75k.
3. Industrial production rose 1% m/o/m, above the 0.4% expected increase.
4. Manufacturing also rose 1% in April, well above the 0.3% expected rise.
5. Bloomberg consumer comfort index rose from 49.7 to 50.2.
6. Housing market index came in at 70, above the 68 expected and up from 68 previously.
1. Stocks had a rough day on Wednesday, falling >1%. Remarkably though, just the second 1% decline YTD.
2. Housing starts fell from 1.215M to 1.172M (annualized), a 2.6% drop.
3. MBA mortgage applications composite index fell 4.1%.
4. Permits for single family homes fell 4.5%.