Succinct Summations for the week ending February 9th, 2017
Positives:
1. Could have been worse: Bad week ends with Friday afternoon rally…
2. Jobless claims come in at 221k, down from 230k previously and below the 235k expected
3. ISM non-mfg index increased to 59.9, the strongest reading in its 20-year history
4. Chain store sales rose .4% in December following a 1.2% gain in November
5. Bloomberg Consumer Comfort Index declined from 54.6 to a still very strong 54.4.
Negatives:
1. Another rough week for U.S. stocks as the S&P 500 declines by 6%; The Dow had its worst 2-week decline (-9.1%) since August 2011.
2. PMI services index came in at 53.3, in-line with expectations and near a 9-month low
3. Same store sales rose 3% y/o/y, down slightly from last reading
4. Job openings fell 2.8% in December from 5.879M to 5.811M
Thanks, Mike!
