Succinct Summation of Week’s Events 8.18.17

Succinct Summations for the week ending August 18th, 2017


1.White House Strategist Steve Bannon is fired, giving hope for some policy stability in the future.
2. Initial jobless claims remain low, at 232k. The 4-week average is now down to 240.5k.
3. Retail sales rose 0.6% m/o/m. June was revised higher from -0.2% to +0.3%. .
4. Japan GDP grew at a 4% annualized rate in the most recent quarter, its sixth consecutive expansionary reading, the longest since 2006
5. US July industrial production rose by 0.2% m/o/m, one tenth more than expected 
6. Overall capacity utilization held at 76.7%, the most in 2 years
7. Consumer sentiment remains elevated, coming in at 97.6, above the 93.4 expected.
8. Empire state manufacturing survey came in at 25.2, the strongest number since September 2014.


1. U.S. Stocks had a rough day on Thursday, experiencing their worst loss in three months.
2. Housing starts fell to a lower than expected 1.155 million SAAR, below the 1.255 expected.
3. Industrial production rose just 0.2% m/o/m, below the 0.3% expected rise.
4. Motor vehicle/parts production fell by 3.6% m/o/m and are now down 5% y/o/y as auto markets adjust to too much inventory.
5. Outside of petroleum, import and export prices came in flat m/o/m.
6. Purchase applications for a mortgage fell by a seasonally adjusted 2% w/o/w


Thanks, Mike!

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