Succinct Summation of Week’s Events for 6.30.17

Succinct Summations for the week ending June 30th, 2017


1. Corporate profits rose 11.5% y/o/y in Q1 to annualized $1.729 trillion.
2. Real GDP was revised up from 1.2% to 1.4%.
3. Personal income rose 0.4%, in line with expectations
4. Consumer confidence rose from 117.9 to 118.9, above the 116.7 expected.
5. Jobless claims continue to be low, coming in at 244k.


1. Durable goods fell 1.1% in May. Ex transportation it rose just 0.1%.
2. Consumer spending rose just 0.1% in May. Nondurable goods spending fell 0.5%.
3. Pending home sales fell 0.8%, the third consecutive monthly decline.
4. MBA mortgage applications fell 6.2% w/o/w;  S&P Case-Shiller rose just 0.3% in April
5. Initial jobless claims rose 2k w/o/w to 244k


Thanks, Mike!

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