Succinct Summation of Week’s Events for 9.28.18

Succinct Summations for the week ending September 28th, 2018

Positives:

1. Durable goods orders rose 4.5% m/o/m, meeting the high range of expectations.
2. Same store sales rose 5.8% w/o/w, 0.4% higher than the previous 5.4% rise.
3. New home sales came in at 629k for August, meeting expectations.
4. Retail inventories rose 0.7% m/o/m, up from previous 0.4% increase; Wholesale inventories rose 0.8% w/o/w, beating the expected 0.2% rise.
5. MBA mortgage applications rose a seasonally adjusted 3.0% w/o/w, maintaining the y/o/y gain of 4.0%.
6. Consumer confidence report rose to 138.40 this month, beating expected 131.7.

Negatives:

1. Decline of Western Civilization continues apace.
2. Trade in goods came in at -75.8B for August, down from prior revised -72.2B.
3. Tesla CEO faces SEC challenge for “Funding Secured” nonsense;
4. Pending home sales index fell by 1.8% m/o/m, missing expectations.
5. Jobless claims rose 12k w/o/w, from a revised 202k to 214k.
6. PCE price index rose 0.1% m/o/m, missing the expected 0.2% increase.

 

Thanks, Matt!

 

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