Succinct Summations for the week ending June 15th, 2018
Positives:
1. Jobless claims came in at 218k, down from previous 222k.
2. Consumer price index rose .2% m/o/m, meeting expectations.
3. Small business optimism index rose 3 points in May from 104.8 to 107.8.
4. PPI-FD rose .5% m/o/m, beating the expected .3% increase.
5. Same store sales rose 4.3% w/o/w, up .3% from previous week.
6. Business inventories rose .3% m/o/m, in line with expectations.
7. Empire state mfg index reads 25 for month of June, beating expected 19.1.
8. Bloomberg consumer comfort index increased 1 point w/o/w.
Negatives:
1. Trade war escalates with US round of tariffs on washing machines, solar panels, steel and aluminum; China immediately responded with tariffs of their own which we in turn we threaten to add even more in response (Rinse, lather repeat)
2. Shanghai composite closed the week at the lowest level since September 2016, in response to tariffs.
3. Industrial production fell .1% m/o/m, down from previous .1% rise.
4. Import and export prices both rose .6% m/o/m.
5. MBA home mortgage applications fell a seasonally adjusted 2%, down from previous 4% increase.
Thanks, Matt
