Succinct Summations Week Ending August 15th
Positives:
1. The S&P 500 gained 1.4% on the week and is just 1.5% off the all-time highs.
2. NFIB small business optimism rose to 95.7, up from95 previously.
3. U.K. unemployment fell to 6.4%, the lowest level since ’08.
4. Consumer confidence in Japan rose to an 8-month high.
5. US industrial production in July rose .4% m/o/m, slightly better than expected.
6. PPI rose 0.1% m/o/m headline while core rose 0.2% with 1.7% and 1.6% y/o/y gains respectively, in line with expectations.
Negatives:
1. Retail sales came in flat, vs expectations of a 0.2% gain.
2. Japan GDP fell 6.8%, better than the 7% decline expected, but still not good.
3. MBA mortgage applications fell 3.7% w/o/w.
4. Core retail sales grew by 0.1%, below expectations of a 0.4% gain.
5. Jobless claims rose to 311k, vs 295k expected.
6. NY manufacturing index fell to 14.7, well below the 20 expected.
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