Succinct Summations for the week ending November 6th, 2015
Positives:
1. Nonfarm payrolls came in at 271k, well ahead of the 190k expected.
2. Unemployment came in at 5%, down from 5.1% previously.
3. PMI Manufacturing Index rose from 53.1 to 54.1, which was in line with expectations.
4. Construction spending rose 0.6% m/o/m and 14.1% y/o/y, both were above expectations.
5. ADP employment came in at 182k, slightly below expectations but still a fine reading.
6. ISM Non-Manufacturing Index came in at 59.1, above the 56.7 expected and up from 56/9 previously.
7. Average hourly earnings rose 0.4%, above the 0.2% expected rise.
8. Consumer Credit outstanding surged to $28.9 billion, the largest gain ever.
9. The S&P 500 increased for the sixth straight week.
Negatives:
1. ISM Manufacturing Index came in at 50.1, in line with expectations.
2. The MBA mortgage applications composite fell 0.8% w/o/w.
3. Initial jobless claims came in at 276k, the 4-week moving average has ticked up slightly to 262.75k.
Thanks, Mike!
