Succinct Summations for the week ending October 5th, 2018
Positives:
1. Unemployment rate decreased to an astonishing 3.7% in September (from 3.9%)
2. Jobless claims fell 8k w/o/w, from prior revised 215k to 207k.
3. Factory orders rose 2.3% m/o/m, higher than previous 0.8% decline.
4. PMI manufacturing index rose 0.9 in September, from 54.7 to 55.6.
5.ISM non-manufacturing index came in at 61.6 for September, beating expectations. ISM manufacturing index came in at 59.8 meeting expectations.
6. Nobody started a war or anything stupid like that.
Negatives:
1. Blame Florence: Total nonfarm payroll employment increased by 134k m/o/m, missing expected 180k.
2. Same store sales were up 5.7% w/o/w, down 0.1% from last week’s 5.8% gain.
3. Trade deficit increased to 53.2B in August, greater than 50.0B reported in July.
4. Construction spending rose 0.1% m/o/m, missing an expected gain of 0.4%.
5. PMI services index fell 1.3 points in September, from 54.8 to 53.5.
6. Country remains deeply divided by partisan strife, with POTUS pouring fuel on the fire.
Thanks, Matt
