Succinct Summations for the week ending August 11th, 2017
Positives:
1.Nuclear war postponed (for now)
2. Jobless claims remain low at 244k, with the 4-week moving average down to 241k.
3. MBA mortgage composite index rose 3% w/o/w.
4. NFIB small business optimism index rose from 103.6 to 105.2, higher than the 103.2 expected.
5. Special Prosecutor seems to be making progress…
Negatives:
1. US stocks had a rough week, as the S&P 500 experienced its largest weekly decline since March.
2. Headline producer prices fell 0.1% in most recent report — first m/o/m decrease of the year.
3. Consumer prices also remain soft, rising just 0.1% m/o/m and 1.7% y/o/y.
4. Nonfarm productivity rose at a SAAR of 0.9%, on the low end of the expected range.
Thanks, Mike!
