Succinct Summations for the week ending August 3rd, 2018
Positives:
1. Unemployment rate fell 0.1% in July from 4% to 3.9%.
2. ADP employment report shows 219k increase in July, beating the expected 173k.
3. Pending home sales rose 0.9% in June. meeting the high end of expectations.
4. Challenger job cut report shows layoffs decreasing form 37,202 to 27,122 m/o/m.
5. Personal income rose 0.4% m/o/m as expected.
6. Same store sales rose 4.2% w/o/w, higher than the previous 3.8% rise.
Negatives:
1. Non-farm payrolls rose 157k m/o/m, down from June’s 213k rise and on the low end of expectations.
2. MBA home mortgage applications fell a seasonally adjusted 3% w/o/w, for third weekly decline in a row.
3. The trade deficit fell from -43.1B to -46.3B for month of June.
4. Jobless claims came in at 218k w/o/w, slighter higher than previous 217k.
5. Factory orders rose 0.7% m/o/m, missing the expected rise of 0.9%.
6. Construction spending fell 1.1% w/o/w, well below an expected increase of 0.3%.
Thanks, Matt!
