Succinct Summations of Week’s Events 4.13.18

Succinct Summations for the week ending April 13th, 2018

Positives:

1. Stocks had their best week in a month, gaining 2%
2. Same store sales rose 2.9% y/o/y.
3. Jobless claims fell by 9k w/o/w, down from 242k to 233k.
4. Core CPI rose .2% m/o/m, meeting expectations.
5. Wholesale inventories rose 1% in February, up from prior revised .9% in January.
6. Import prices remained unchanged while export prices rose .3% for March.

Negatives:

1. News flow has been insane, making most of us want to hide in a cave.
2. Mortgage applications fell 1.9%, down a second straight week.
3. NFIB Small Business Optimism Index fell by 2.9 points in March, down from 107.6 to 104.7.
4. Consumer sentiment fell from 101.4 to 97.8, below the 101 expected.
5. Comey book, Libby Pardon, Rosenstein firing only going to ratchet up the noise level.

Thanks, Matt!

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