Succinct Summations for the week ending July 13th, 2018
Positives:
1. Same store sales rose 5.2% w/o/w, up .8% from previous 3.1% rise.
2. Home mortgage purchase applications rose a seasonally adjusted 6.5% w/o/, and 7.7% Y/o/Y.
3. Jobless claims fell 17k w/o/w from 231k to 214k.
4. Consumer price index rose .1%, meeting expectations.
5. Wholesale inventories rose .6% in May, greater than April’s .1% build.
Negatives:
1. Job openings fell to 6.638M in May, down from April’s 6.698M.
2. Import prices fell .4% showing price weakness for the month of June.
3. PPI-FD rose .3% m/o/m, less than the previous .5% rise.
4. Consumer sentiment index fell 1.1 points in June from 98.2 to 97.1.
5. Home mortgage buyers may have only shown up thanks to a 5 week low in the average 30 yr mortgage rate.
Thanks, Matt!
