Succinct Summations week ending November 28th
1. Stocks keep chugging: Dow made a new all-time high for 5th straight week, S&P 500 for the 4th straight week.
2. Durable goods orders rose 0.4% m/o/m, vs expectations of a 0.6% decline.
3. Q3 GDP came in at 3.9%, better than the 3.3% expected.
4. Crude Oil falls as much as 11.7% this week as OPEC stands pat.
5. New home sales gained 0.7% m/o/m, up from 0.4% In September.
6. Case-Shiller composite gained 0.34% m/o/m, up from 0.12% in the prior month and slightly better than expectations.
7. U of Mich consumer sentiment came in at 88.8, its highest reading since July 2007.
8. Chicago PMI came in at 60.8, still strong but slightly below expectations.
1. Deflationary themes persist as global yields continue to drop; the French 10-year fell below 1% for the first time ever.
2. Personal income rose 0.2% m/o/m, below expectations for a 0.4% rise.
3. Core capital goods dropped 0.4% m/o/m, vs expectations of a 0.5% increase.
4. Initial jobless claims rose to 313k, up from 292k and more than the 288k expected.
5. Pending home sales fell 1.1% m/o/m, well below the 0.5% expected fain.