Succinct Summations for the week ending November 23rd, 2018
Positives:
1.Existing home sales came in at an annualized rate of 5.220M for October, exceeding expectations.
2.E-commerce retail sales rose 3.1% in Q3 for a second straight quarter
3. Housing starts rose to an annualized rate of 1.228M, meeting expectations.
4. MBA mortgage applications rose a seasonally adjusted 3.0% w/o/w, up from previous 2.3% decrease.
5. Index of economic leading indicators rose by 0.1% m/o/m.
6. Same store sales rose 6.2 w/o/w, up from previous 6.1% increase.
Negatives:
1. Dow, NASDAQ post biggest percentage weekly drop since March.
2. A month ago Bitcoin was $6392.45; today it is $4,241.43. All of the CryptoCurrencies are getting pounded;
3. POTUS threatens independence of the Federal Reserve and Judiciary;
4. Home refinance applications fell 5% w/o/w, following a 4.3% decrease in previous week.
5. Durable goods orders fell 4.4% m/o/m, down from a prior revised 0.1% decrease.
6. Consumer sentiment came in at 97.5 for November, missing the expected 98.3.
Thanks, Matt !
