Succinct Summations for the week ending February 21st, 2020:
Positives:
1. Spread of Coronavirus slows in China; a full blown pandemic seems less likely;
2. Index of leading indicators rose 0.8% w/o/w, above the expected increase of 0.3%
3. PPI-FD rose 0.5% m/o/m, above the expected increase of 0.1%.
4. Housing starts came in at 1.567M for January, above the expected 1.420M.
5. Same store sales rose 5.7% w/o/w, higher than the previous increase of 4.8%.
6. Empire State Mfg Survey came in 12.9 for February, above the expected 4.0.
Negatives:
1. Nevada debate increases odds of November battle between a Socialist Idiot and a Populist Idiot;
2. Home mortgage apps fell 3.0% w/o/w after last week’s 6.0% decrease.
3. Home refinance apps fell 8.0% w/o/w, below the previous increase of 5.0%.
4. Existing home sales came in at 5.46M for January, below the previous 5.53M.
5. E-Commerce retail sales rose 2.6% q/o/q, below the previous increase of 4.6%.
6. Jobless claims rose 4k w/o/w from 206k to 210k
Thanks, Matt!
