Succinct Summations of Week’s Events 4.14.17

April 14, 2017 4:30pm by

Succinct Summations for the week ending April 14th, 2017.

Positives

  1. MBA purchase applications rose 3% w/o/w, and are up 5% from the same time last year.
  2. Import prices, dragged lower by oil, fell 0.2% m/o/m.
  3. PPI remains soft, falling 0.1% m/o/m. Y/O/Y rose 2.3%, its highest in five years, due to easy oil comps.
  4. Jobless claims remain low, coming in at 234k, with the 4-week average at 247.25k.
  5. Consumer sentiment remains strong, coming in at 98, up from 96.9 previously.
  6. NFIB small business optimism index remains strong, coming in at 104.8.

Negatives

  1. Retail spending fell 0.2% m/o/m, wrapping up a weak quarter for consumer spending.
  2. CPI fell 0.3% m/o/m, the core fell 0.1%.
  3. The S&P 500 fell 1.1%, its second worst week of 2017.

 

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