Succinct Summations of Week’s Events 6.22.18

Succinct Summations for the week ending June 22nd, 2018


1. Jobless claims came in at 218k, beating the expected 220k.
2. Same store sales rose 4.7% w/o/w, up .4% from previous week.
3. MBA mortgage applications rose 4% w/o/w, up from previous 2% decline.
4. Housing starts rose to 1.350M in May, up 5% from previous 1.278M.
5. Current account shows a trade deficit of -124.1 B for the first quarter, up from previous reading of -128.2B.


1. Dow Jones Industrial Average dropped 509.59 points, or 2%, to 24,580.89 last week, as trade tensions escalated;
2. Existing home sales fell from 5.460M to 5.430M in month of May.
3. Leading indicators index rose .2% m/o/m, down from previous 4% rise.
4. The housing market index fell 2 points in June from 70 to 68.
5. Philadelphia Fed business outlook survey fell 14.5 points in June, from 34.4 to 19.9, but only because I was there


Thanks, Matt!

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