Succinct Summations for the week ending January 12th, 2018.
Positives:
1. All major U.S. stock indexes hit all-time highs this week.
2. Wholesale trade rose 0.8% m/o/m, above the 0.7% expected increase.
3. Retail sales rose 0.4%, below the 0.5% expected; November was revised 0.1% higher to a 0.9% increase.
4. Core CPI rose 0.3% m/o/m, above the 0.2% expected increase.
5. MBA mortgage applications rose 8.2% w/o/w.
Negatives:
1. Jobless claims rose from 250k to 261k, above the 245k expected. The 4-week moving average is up to 250.75k.
2. PPI fell 0.1% m/o/m. Less food and energy also fell 0.1%, both below the 0.2% expected increase.
3. Import prices rose 0.1% m/o/m while export prices fell 0.1%, displaying a lack of inflation in December.
4. NFIB small business optimism fell from 107.5 (a 13-year high) to 104.9, below the 107.9 expected.
Thanks, Mike!
