Succinct Summations for the week ending January 19th, 2017:
Positives.
1. Major US Stock indices set new record highs;
2. Jobless claims fell to 220k, the lowest reading in 45 years;
3. Industrial production rose 0/9% m/o/m, well above the 0.4% expected increase.
4. The housing market index fell from 74 to a still strong 72.
5. MBA mortgage applications rose 4.1% w/o/w; Housing permits rose from 1.298M to a 1.302M SAAR.
Negatives:
1. Treasury yields reach highest since 2014, dollar gains;
2. Gold climbs on strength in precious metals, crude slides — a combination that is potentially worrisome.
3. Consumer sentiment slowed from 95.9 to 94.4, below the 97 expected reading.
4. Housing starts fell from 1.297M to a 1.192M SAAR, below the 1.28M expected.
5. Empire state manufacturing fell from 18 to 17.7 (last reading was revised higher to 19.6)
Thanks, Mike!
