Succinct Summation of the Week’s Events for 3.9.18

Succinct Summations for the week ending March 9th, 2018:

Positives:

1. S&P 500, Dow and NASDAQ 100 all gain more than 3% on week;
2. Nonfarm payrolls rose 313k in February, well above the 205k expected
3. Labor participation rate rose from 62.7% to 63% — above the 62.7% expected.
4. Same store sales rose 3.8% y/o/y.
5. Jobless claims rose to 231K, up from prior week’s 49-year low. 4-week average = 222.5k.
6. ISM non-manufacturing index came in at 59.5 in February, above the 58.8 expected.
7. Layoff announcements showed another low level of 35,369. Down from the previous reading of 44,653.
8. PMI Services index rose 2.6 points to 55.9.

Negatives:

1. Average hourly earnings rose 0.1% m/o/m and 2.6% y/o/y, both below expectations.
2. Trade deficit widened to $56 billion in January, more than expected.
3. Unemployment surprisingly unchanged at 4.1%.
4. Home mortgage applications fell (seasonally adjusted) 1% w/o/w.
5. Factory orders are down 1.4% m/o/m.
6. Wholesale inventories rose .4 to .8 m/o/m; Crude oil inventories rose 2.4 million barrels to 425.9 million w/o/w.

Thanks, Matt!

 

Print Friendly, PDF & Email

Read this next.

Posted Under