Succinct Summations week ending November 14th
1. The average price of gasoline is down thirty cents y/o/y and is at the lowest levels in 4 years.
2. Retail sales rose 0.3% after falling 0.3% in September. Ex-gas and autos, sales were up 0.6%.
3. People are quitting their jobs at the fastest rate since 2008, suggesting they are finding other, better paying jobs.
4. NFIB small business optimism rose to 96.1, up from 95.3 in September.
5. Initial jobless claims came in below 300k for the longest consecutive period since 2000.
6. The S&P 500 and Dow Jones Industrial Average both made new all-time highs.
1. Eurozone GDP grew 0.6% on an annualized basis last quarter, slightly better than expected but still lousy.
2. Brazil lost over 30,000 jobs in October, the worst monthly number in over fifteen years.
3. Initial jobless claims rose 12k last week to 290k, above the 281k expected.
4. Annual Eurozone inflation came in at 0.4%, well below the ECB’s target of 2%.
5. MBA refinance applications fell for the third straight week.