Succinct Summations for the week ending June 8th, 2018
Positives:
1. For the 1st time ever, the net worth of U.S. households and nonprofits rose to $100.8 trillion
2. JOLTS report shows job openings at 6.698M for April, exceeding the number of unemployed actively looking for work for first time in 20 years.
3. Jobless claims came in at 222k, lower than expected 225k.
4. MBA mortgage applications rose 4% w/o/w, up from previous 2% decline.
5. PMI services index rose 2.2 points in May, from 54.6 to 56.8.
6. International trade gap narrowed to -46.2B in April, beating expectations.
7. ISM non-mfg index came in at 58.6, beating the expected 58.
Negatives:
1. 6.7 million job openings are unfilled — a record — reflecting a deep structural failing of both the US educational system, immigration and the economy.
2. Same store sales rose 4% w/o/w, slowing from previous 4.3%.
3. Q1 productivity was revised down to a 0.4% q/o/q annualized gain from .6% initially.
4. Wholesale inventories rose 1% m/o/m, down from previous months 0.3% rise.
5. Bloomberg consumer comfort index fell .4 from 55.2 to 54.8.
Thanks, Matt!
