Succinct Summations for the week ending June 9th, 2017.
Positives:
1. ISM non-manufacturing came in at 56.9, at the upper range of the expected reading.
2. The MBA mortgage application purchase index rose a seasonally adjust 10% w/o/w, to the highest levels since May 2010.
3. Jobless claims fell from 248k to 242k, which is where the 4-week moving average is.
4. Bloomberg consumer comfort fell from 51.2 to a still strong 49.9
5. U.S. stocks hit an all-time high on Friday, before hitting some turbulence.
Negatives:
1.PMI services came in at a lower-than-expected 53.6.
2. Factory orders fell 0.2% in April.
3. Wholesale inventories fell 0.5% m/o/m.
4. Tech stocks experienced a significant intra-day pullback on Friday, with many falling more than 4%.
