Succinct Summations week ending June 26th
Positives:
1. Consumer spending rose by 0.9% in May, the biggest gain in six years.
2. Weekly jobless claims came in at 271k, vs the 274k forecast.
3. Existing home sales rose 5.1% to 5.35m vs expectations of 5.26m, the highest since 2009.
4. New home sales came in at 546k, up from 534k previously and higher than the 525k expected.
5. Consumer sentiment rose to 96.1, a five-month high.
Negatives:
1. Markit US services PMI came in at 54.8, down from 56.2 and the lowest since January.
2. Durable goods fell 1.8% vs an expected decrease of 1.5%.
3. Markit US manufacturing PMI fell for the third straight month to 53.4, the lwest reading since October 2013.
