Succinct Summation of Week’s Events for 12.29.17

Succinct Summations for the week ending December 29th, 2017

Positives:

1. Stocks end the year strong, with the S&P 500 gaining 20%.
2. October Case-Shiller home price index rose 0.7% m/o/m and 6.4% y/o/y, both higher than expected.
3. Chicago PMI rose from 63.9 to 67.6, above the 62.5 expected.

Negatives:

1. Consumer confidence fell from 129.5 (a 17-year high) to 122.1.
2. Pending home sales rose just 0.2% m/o/m, below the 0.5% expected increase.
3. Jobless claims hold steady at 245k, unchanged from last week and slightly above expectations.

Thanks, Mike!

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