Succinct Summation of Week’s Events 11.22.19

Succinct Summations for the week ending November 22nd, 2019

Positives:

1. Q3 Earnings continue to come in stronger than expected;
2. Existing home sales rose 1.9% m/o/m, from 5.360M to 5.460M.
3. Home mortgage apps rose 7.0% w/o/w, above the previous increase of 5.0%.
4. Index of Leading Indicators fell 0.1% m/o/m, above the expected decrease of 0.2%.
5. PMI Composite rose 0.6 m/o/m from 51.6 to 52.2.
6. Consumer sentiment came in at 96.8 in November, above the expected 95.7

Negatives:

1. Markets sell off for the week as trade deal seems to be DOA. falling apart. Hard to believe Charlie Brown traders still fall for Lucy’s same football trade deal tricks;
2. Jobless claims remained the same for the week at 227k, above the expected 217k.
3. Same store sales rose 4.1% m/o/m, decelerating from the previous increase of 5.0%.
4. Housing starts came in at 1.314M in October, below the expected 1.320M.
5. Home mortgage refinance apps fell 8.0% w/o/w, below the previous increase of 13.0%.
6. Housing market index fell 1 point in November to 70, below the expected 71.

 

Thanks, Matt!