Succinct Summations for the week ending November 17th, 2017
Positives:
1. U.S. stocks had their best day on Thursday since early September.
2. Industrial production rose 0.9% m/o/m, manufacturing rose 1.3%, both well above expectations.
3. Housing starts rose 13.7% to a 1.29 million annualized rate, above the 1.135 million expected. Permits came in at 1.297 million, above the 1.215 million expected.
4. Retail sales rose 0.2%, above the 0.1% expected increase. Previous month was revised up from 1.6% to 1.9%.
5. NFIB small business optimism index rose from 103 to 103.8, but below the 105 expected.
6. Producer Price Index rose 0.4% m/o/m, above the 0.1% expected increase.
7. MBA mortgage applications rose 3.1% w/o/w, with refinances increasing by 6%.
Negatives:
1. Jobless claims rose from 239k to 249k, above the 236k expected.
2. Consumer prices rose just 0.1% m/o/m, in line with expectations.
3. Import prices rose 0.2% m/o/m, below the 0.4% expected increase.
4. Export prices came in flat, below the 0.1% expected increase.
Thanks, Mike!
