Succinct Summations for the last week of the year, ending December 28th, 2018
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.
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.