Succinct Summations week ending January 30rd
1. Weekly jobless claims fell 43,000 to 265,000, the lowest since 2000!
2. Apple reported a record breaking quarter as it sold 74.5 million iPhones
3. Personal consumption came in at 4.3% vs 4% expected.
4. Chicago PMI came in at 59.4 vs the 57.5 expected.
5. U of Mich consumer confidence came in at 98.1, a hair below expectations but still strong and up from 93.6 in December.
1. US Q4 real GDP came in at 2.6% annualized vs 3% expected.
2. Durable goods fell 3.4% m/o/m, below expectations and down from the 2.1% decline in November.
3. The S&P 500 had back-to-back down months for the first time since 2012
4. Yields keep falling around here and around the globe; 30 year hits lowest yields ever.
5. Earnings season has not been kind to some of the biggest companies, including Caterpillar, Microsoft and Qualcomm.
6. Dallas fed manufacturing index came in at -4.4 vs 3 expected.
7. Germany, Europe’s largest economy fell 0.3% m/o/m, the first negative print since 2009.
8. The S&P 500 has moved in a range greater than 1% in all but two trading days in January, volatility is back.
9. Pending home sales fell 3.7% m/o/m