Succinct Summations for the last week of the year, ending December 28th, 2018
Positives:
1. Indices rally 4-5% on Wednesday off of deeply oversold levels; Dow jumps 1,000 points as stocks hold gains;
2. Same store sales rose 7.8% w/o/w, up from previous week’s 7.1% increase.
3. Jobless claims fell 1k w/o/w, from prior revised 217k to 216k.
4. FHFA house price index rose 0.3% w/o/w, meeting expectations.
5. Chicago PMI came in at 65.4 for December, above the expected 62.4. Chicago fed national activity index rose to 0.22 in November, exceeding expected 0.19.
Negatives:
1. Government Shut Down continues as Washington dysfunctionality worsens;
2. Consumer confidence index fell 8.3 points in December, from 136.4 to 128.1.
3. Pending home sales decreased -0.7% m/o/m, missing the expected 1.5% increase.
4. State street investor confidence index fell 2.8 points m/o/m from 82.6 to to 79.8.
5. Case-Shiller index rose 5.0% y/o/y, 0.2% lower than previous 5.2% increase.
Thanks, Matt!
