Succinct Summations for the week ending August 25th, 2017
1. Despite all of the political turmoil, S&P500 is within 1.5% of its all time highs.
2. Core capital goods rose 0.4% m/o/m. Ex-transportation they rose 0.5%, better than the 0.1% expected increase.
3. Jobless claims remain near historic lows, coming in at 234k.
4. PMI service index rose to 56.9, up from 54.2 previously and above the 54.8 expected.
1. FHFA house price index rose just 0.1% m/o/m, well below the 0.5% expected increase.
2. New home sales fell to a 571K SAAR, below the 610k expected.
3. Existing home sales fell 1.3% m/o/m to a lower than expected annualized rate of 5.44 million.
4. PMI manufacturing fell to 52.5, down from 53.2 previously.
5. Chicago Fed National Activity Index fell from .13 to -0.01
6. MBA mortgage purchase index fell a seasonally adjust 2% w/o/w.