Succinct Summations of Week’s Events for 5.4.18

Succinct Summations for the week ending May 4th, 2018

Positives:

1. Unemployment rate fell to 3.9% in April, its lowest level in 17 years.
2. Net revisions to two prior payroll months were up by 30k
3. Average weekly earnings rose by 3.2% in March and 2.9% in February.
4. Jobless claims came in at 211k, up from previous 209k and below the 224k expected.
5. The trade deficit fell from -57.6 billion to -49 billion during the month of March.
6. Same store sales growth rose 3.5% y/o/y.
7. PMI Manufacturing rose from 55.6 to 56.5, its highest since September 2014; PMI services index rose to 54.6 from previous 54.
8. Factory orders rose 1.6% m/o/m, up .4% from previous 1.2%.

 

Negatives:

1. Payrolls in April grew by 164k, 30k less than expected
2. Labor participation rate ticked down by one tenth to 62.8% falling for the 2nd straight month.
3. Mortgage applications fell a seasonally adjusted 2% w/o/w.
4. ISM Non-Mfg Index came in at 56.8, below expected 58.4 to a 4 month low.
5. CRB food index touched the highest level since August 2017.
6. Average gallon according to AAA is at $2.82, the most since July 2015.

 

Thanks, Matt!

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