Succinct Summation of Week’s Events 1.27.17

Succinct Summations for the week ending January 27th, 2017.

Positives:

  1. PMI manufacturing rose from 54.2 to 55.1, the strongest reading since March 2015.
  2. Jobless claims rose slightly to 245.5k, the 4-week moving average fell to 245.5k.
  3. Seasonally adjusted purchase applications for mortgages rose 6% to the highest level since June
  4. FHFA house price index rose 0.5% in November and 6.1% y/o/y.
  5. PMI services flash rose to 55.1, the strongest rate of growth since November 2015.
  6. Consumer sentiment rose from an already high 98.1 to 98.5.
  7. We finish the first week of the Trump Presidency with no adverse consequences…

Negatives:

  1. Existing home sales fell 2.8% in December to a SAAR 5.490mm.
  2. Real GDP rose 1.9% in the most recent quarter, below the 2.2% expected rise.
  3. Durable goods fell 0.4% m/o/m, well below the 2.6% expected increase.
  4. New home sales plunged 10.4% in December
  5. President Trump tries to start a Trade War with Mexico!

 

Thanks, Mike!

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