Succinct Summations for the week ending January 18th, 2019
Positives:
1. Markets eked out a gain on hopes for a Trade War breakthrough.
2. Housing market index rose 2 points m/o/m from 56 to 58.
3.Home mortgages rose a seasonally adjusted 9% w/o/w, highest level since April 2010.
4. Jobless claims fell 3k w/o/w from 216k to 213k, lower than expected 221k .
5. Crude oil inventories fell 2.7M barrels w/o/w to 437.1M.
6. Industrial manufacturing rose 1.1% m/o/m, beating the expected 0.1% increase.
Negatives:
1. Shutdown in DC continues unabated — this is now the longest Government shutdown in the modern era.
2. PPI-FD fell 0.2% m/o/m, less than previous month’s 0.1% increase.
3.Import prices fell -1.0%, and export prices fell -0.6% m/o/m, missing expectations.
4. Same store sales rose 6.7% w/o/w, down from previous 8.9% increase.
5. Industrial production rose 0.3% m/o/m, down from prior revised 0.4% increase.
6. Consumer sentiment index fell to 90.7 in January, below the expected 97.0.
Thanks, Matt!
