Succinct Summations for the week ending October 12th, 2018
Positives:
1. Same store sales rose 6.5% w/o/w, up from previous rise of 5.7%;
2. Presidents Trump and Xi plan a get together at the G20 meeting the end of November, hopefully avoiding a US-China trade war;
3. Consumer sentiment comes in at 99.0 for early October, meeting expectations;
4. PPI-FD rose 0.2% m/o/m, up from previous 0.1% decline;
5. Wholesale inventories rose 1.0% m/o/m, beating expected 0.8% rise.
Negatives:
1. U.S. stocks fell more than 4% on the week, their worst week since March;
2. Venerable retailer Sears is rumored to be preparing for Bankruptcy filing;
3. Home mortgage applications fell a seasonally adjusted 1.0% w/o/w, down from previous;
4. Jobless claims rose 7k w/o/w from 207k to 214k;
5. CPI rose 0.1% m/o/m, meeting the low end of expectations.
Thanks, Matt!
