Succinct Summation of Week’s Events 8.24.18

Succinct Summations for the week ending August 24th, 2018

Positives:

1. Jobless claims fell to 210k w/o/w, down from previous week’s 212k.
2. MBA home mortgage applications rose a seasonally adjusted 3% w/o/w.
3. Order for core capital goods rose 1.4% m/o/m, beating expected gain of .5%.
4. Same store sales rose 4.7% w/o/w, higher than the previous 4.5% rise.

Negatives:

1. Existing home sales fell to an annualized rate of 5.340M, missing expected 5.420M.
2. FHFA house price index showed a .2% increase for June, missing the expected .4%.
3. PMIU composite FLASH shows manufacturing at 54.5 for August, down from July’s reading of 55.5.
4. Kansas City Fed manufacturing index came in at 14 in August, 9 points below what was expected.

Thanks, Matt!

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