Succinct Summations for the week ending July 6th, 2018
Positives:
1. Non-farm payrolls rose 213k m/o/m, beating the expected 190k.
2. Home mortgage purchase applications rose a seasonally adjusted 1% w/o/w.
3. Job layoffs averaged a monthly 34,933 for second quarter, down from first quarters average of 46,793.
4. Factory orders rose .4% m/o/m, beating the expected no change.
5. Same store sales rose 4.4% w/o/w, up 1.3% from previous 3.1% rise.
6. Bloomberg consumer comfort index rose .3 w/o/w from 57.3 to 57.6.
Negatives:
1. Average hourly earnings were up just 0.2%;
2. Labor force rose by 601,000, sending UnEmployment to 4.0%
3. Jobless claims rose 4k w/o/w, from 227k to 231k.
4. Most of the unemployment increase came from long term unemployed (27+ weeks)
5. Home refinance applications fell 2% w/o/w, down a second straight week.
6. PMI Manufacturing index fell 1 point in June from 56.4 to 55.4.
Thanks, Matt!
