Succinct Summation of Week’s Events 3.24.17

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

Positives:

1. New home sales rose 6.1% to a 592 annualized rate.
2. Durable goods rose 1.7%, slightly above expectations.
3. The Chicago Fed national activity index rose from -0.05, which was revised up to -0.02, to 0.34.
4. FHFA house price index rose 5.7% y/o/y.

Negatives:

1. S&P 500 fell 1% in remarkably, its worst week of the year.
2. PMI composite flash came in at 53.2, below the 54.3 expected.
3. Core capital goods fell 0.1%, versus an anticipated 0.5% increase.
4. Existing home sales fell 3.% in February to a 5.48M annualized rate, below the 5.55M expected.
5. Jobless claims rose 15k to 258k, a 7-week high.
6. The FHFA house price index was flat m/o/m, below the expectations of a 0.5% rise.
7. MBA mortgage applications fell 2.7% w/o/w.

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