Succinct Summations for the week ending August 12th, 2016
- S&P 500, Dow Jones Industrial Average, and NASDAQ all hit all-time highs on the same day for the first time since 1999.
- Jobless claims fell to 266k and the 4-week average remains low at 262.75k.
- MBA mortgage composite index rose 7.1% w/o/w and is up 13% y/o/y.
- Job openings rose 2% to a 5.624 million annualized rate.
- Import prices rose 0.1% m/o/m, but rose 0.5% when excluding petroleum
- NFIB small business optimism rose from 94.5 to 94.6, the fourth consecutive monthly increase.
- Nonfarm productivity fell 0.5% q/o/q; the third consecutive decline.
- Retail sales came in flat, lower than the 0.4% expected increase and down from 0.6% previously.
- Wholesales inventories rose 0.3%, a build for the second straight month.
- Import and export prices fell 3.7% and 3%, respectively.
- Producer prices fell 0.4% in July and are down 0.2% y/o/y.
- Consumer sentiment came in at 90.4, below the 91 expected, but up from 90 previously.