Succinct Summation of Week’s Events 3.23.18

Succinct Summations for the week ending March 23rd, 2018

Positives:

1. Existing home sales rose 3% m/o/m to a 5.54m annualized rate;
2. Durable goods orders rose 3.1% m/o/m, well over 1.7% expected increase. Core capital goods rose 1.8%, above the 0.7% expected increase.
3. Index of Leading Economic indicators rose 0.6%, above 0.3% consensus.
4. Same store sales rose 3.2% y/o/y, above the 2.9% expected gain.
5. Mortgage purchase applications rose 1% w/o/w.

Negatives:

1. Stocks had a rough week with the S&P 500 falling 4% and the tech heavy NASDAQ 100 dropping 5%.
2. PMI Composite Index fell from 55.9 to 54.3 for the month of March.
3. Jobless claims rose 3k from 226k to 229k w/o/w.

Thanks, Matt!

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