Succinct Summations of Week’s Events 2.6.15

February 6, 2015 4:30pm by

Succinct Summations week ending February 6th

Positives:

1. January Nonfarm Payrolls came in at 257k vs 228k expected.
2. Eurozone retail sales were up 2.8% in December, the strongest in almost 8 years.
3. Average hourly earnings grew at 2.2% vs 1.9% expected.
4. Eurozone growth came in at 52.6, a six-month high.
5. Big revisions to the previous six months added another 102k jobs.
6. Oil stopped crashing, it finished the week up 8.5%.
7. Stocks had a strong week, mid-caps hit new all-time highs.

Negatives:

1. January unemployment ticked up a bit to 5.7% from 5.6%.
2. Interest rate sensitive Utilities got roughed up on Friday, having their worst day since August 2011.
3. ISM came in at 53.5, down from 55.1 and below the 54.5 expected.
4. The PMI services index fell in China, Japan and Hong Kong.
5. Purchase applications fell for the third straight week.
6. Nonfarm productivity declined 1.8% on an SAAR versus a 0.2% expected rise.

Thanks, Mike.

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  1. VennData commented on Feb 6

    Falling Unemployment Rate Is More Than A Little Misleading

    “…Although the BLS report presents multiple positive economic indicators, the truth is that all of them, especially the unemployment rate, mask serious concerns about U.S. economic growth. When more precisely analyzed, it’s clear the economy is not improving nearly as quickly as President Barack Obama would have the nation believe…”

    http://dailycaller.com/2015/02/06/falling-unemployment-rate-is-more-than-a-little-misleading/

    When I was living in Newport Beach I got a ridiculous traffic ticket and a buddy of mine said that the cops “pre-wrote” tickets and sure enough it was for a different intersection. Amazing.

    That must be what happened when this GOP nonsense writer’s editors wrote his headline.

    The GOP Media Machine is so full of shit.

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