Succinct Summations of Week’s Event’s 12/19/14

Succinct Summations week ending December 19th


1. Standard & Poor’s 500 Index had the biggest daily back-to-back gains since March 2009.
2. Despite last week’s selloff — the biggest in over two years — the S&P 500 is up for the month of December.
3. Industrial production rose 1.3% vs expectations for a 0.7% increase. This was the biggest monthly increase since May 2010
4. Initial jobless claims came in at 289k vs the 295k expected.
5. Capacity Utilization came in above 80% for the first time since 2008.
6. U.S. manufacturing output rose 1.1% last month and surpassed its pre-recession peak.
7. CPI fell 0.3% m/o/m and rose 1.3% y/o/y.


1. Markit US manufacturing came in at 53.7, the lowest reading since October 2013.
2. Empire manufacturing came in at -3.6, a big miss relative to the 12 expected. This was the lowest reading since January 2013.
3. Markit services PMI fell to 53.6, the lowest reading since February.
4. Housing starts came in at 1.028mm and single family starts fell 39k.
5. Philly Fed manufacturing came in at 24.5 vs 26 expected.

Thanks, Mike.

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