Succinct Summation of Week’s Events 9.14.18

Succinct Summations for the week ending September 14th, 2018

Positives:

1. Mid-Cap and Growth stocks made new new all time highs this week.
2. Jobless claims came in at 204k w/o/w, below the expected 210k;
3. Job openings rose 1.7% in July, from 6.822M to 6.939M.
4. Consumer price index rose 0.2% m/o/m, matching last month’s 0.2% increase.
5. Home mortgage purchase applications rose a seasonally adjusted 1.0% w/o/w, matching prior week’s 1.0% increase.
6.Wholesale inventories rose 0.6% m/o/m, up from previous 0.1% rise; Industrial production rose 0.4% m/o/m, meeting expectations.

Negatives:

1. Trade War poured another $200 million in China tariffs, increasing odds of a bad ending.
2. Import prices fell 0.6% in August, well below expected decrease of 0.1%. Export prices fell 0.1% missing the expected 0.2% increase.
3. Retail sales rose 0.1% in August, down from the previously revised 0.7% rise in July.
4. Home mortgage refinancing applications fell 6.0% w/o/w, the lowest level since Dec. 2000.
5. Manufacturing production rose 0.2 m/o/m, meeting the low end of expectations.
6. Same store sales rose 6.3% w/o/w, lower than the previous 6.5% rise.

 

Thanks, Matt!

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