Succinct Summation of Week’s Events 1.13.17

Succinct Summations for the week ending January 13th, 2017.

Positives:

  1. NASDAQ 100 hit an all-time high.
  2. MBA mortgage application index rose 5.8% w/o/w.
  3. Import prices rose 0.4% m/o/m and 1.8% y/o/y. Inflation is starting to show signs of life.
  4. Initial jobless claims remains low, coming in at 247k and the 4-week moving average at 256.50k.
  5. Producer prices rose 0.4% m/o/m.
  6. NFIB small business optimism index rose to 105.8, the highest reading since December 2004.
  7. Consumer sentiment came in at a strong 98.1.

Negatives:

  1. Retail sales rose 0.6% m/o/m, below expectations; Core sales grew 3.3% y/o/y  below the 5 year average of 3.7%.
  2. Gasoline prices rose 7.8% m/o/m.
  3. Retail sales ex-auto rose just 0.2%.
  4. Business inventories rose 0.7% m/o/m.
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