Succinct Summations for the week ending September 8th, 2017
Positives:
1. Debt Ceiling Deal tied to Hurricane Harvey Aid reduces odds of government shutdown
2.Core durable goods orders in July were revised up to a 1% m/o/m gain vs the first print of up .4%.
3. ISM non-manufacturing index rose from 53.9 to 55.5.
4. Nonfarm productivity rose to a 1.5% SAAR, up from 0.9% previously and above the 1.3% expected.
5. MBA mortgage applications rose 3.3% w/o/w.
6. PMI services index rose from 54.7 to 56.
Negatives:
1. Jobless claims rose 62k to 298k, up from 236k.
2. Factory orders fell 3.3% m/o/m, slightly below the 3.2% expected fall.
3. Summer is over . . .
Thanks, Mike!
