Succinct Summation of Week’s Events 2.24.17

Succinct Summations for the week ending February 24th, 2017.

Positives:

1. The Dow rose 11 days in a row, the longest streak since 1987.
2. Jobless claims rose to 244k, but the 4-week moving average is the lowest since 1973.
3. Existing home sales rose from 5.49M to a SAAR of 5.69M. They rose 3.3% m/o/m and 3.8% y/o/y.
4. Consumer sentiment came in at 96.3.
5. The FHFA house price index rose 0.4% m/o/m and 6.2% y/o/y.

Negatives:

1. PMI manufacturing fell from 55.1 previously to 54.3.
2. New home sales came in at a 555k annualized rate, below the 576k expected.
3. MBA mortgage applications fell 3.7% w/o/w.
4. The Chicago Fed National Activity Index fell to 0.05.

Thanks, Mike!

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