Succinct Summation of Week’s Events 8.12.16

Succinct Summations for the week ending August 12th, 2016

Positives:

  1. S&P 500, Dow Jones Industrial Average, and NASDAQ all hit all-time highs on the same day for the first time since 1999.
  2. Jobless claims fell to 266k and the 4-week average remains low at 262.75k.
  3. MBA mortgage composite index rose 7.1% w/o/w and is up 13% y/o/y.
  4. Job openings rose 2% to a 5.624 million annualized rate.
  5. Import prices rose 0.1% m/o/m, but rose 0.5% when excluding petroleum
  6. NFIB small business optimism rose from 94.5 to 94.6, the fourth consecutive monthly increase.

 

Negatives:

  1. Nonfarm productivity fell 0.5% q/o/q; the third consecutive decline.
  2. Retail sales came in flat, lower than the 0.4% expected increase and down from 0.6% previously.
  3. Wholesales inventories rose 0.3%, a build for the second straight month.
  4. Import and export prices fell 3.7% and 3%, respectively.
  5. Producer prices fell 0.4% in July and are down 0.2% y/o/y.
  6. Consumer sentiment came in at 90.4, below the 91 expected, but up from 90 previously.

 

Thanks, Mike!

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