Succinct Summations of Week’s Events 9.30.16

Succinct Summations for the week ending September 30th 2016

Positives:

1. S&P 500 rose 3.5%, the 14th gain in the past 15 quarters.
2. Jobless claims came in at 254k, the 4-week moving average is down to 256k.
3.New home sales came in at an annualized 609k, above the 59k expected.
4. Consumer confidence came in at 104.1, up from 101.1 previously and above the 98.8 expected.
5. Chicago PMI came in at 54.2, up from 51.5 previously and above the 52 expected.
6. PMI services flash came in at 51.9, above the 50.9 previously.
7. State Street investor confidence index came in at 95.5, above the 89.7 previous reading.

Negatives:

1. Personal income rose 0.2% m/o/m, consumer spending came was unchanged.
2. Durable goods came in flat m/o/m down from the 4.4$ previous reading. They fell 1.3% y/o/y.
3. Wholesale inventories fell 0.1% in August, nondurables fell 0.6%.
4. Corporate profits fell 1.7% y/o/y.
5. Core cap-ex rose 0.6%, down from the 1.6% previous increase. They fell 3.1% y/o/y.
6. Core PCE rose just 0.2% m/o/m.

 

Thanks, Mike!