Succinct Summation of Week’s Events 1.25.19

Succinct Summations for the week ending January 25th, 2019

Positives:

1. Government shutdown resolved! Well, for 3 weeks.
2. Jobless claims fell 13k w/o/w from 212k to 199k.
3. Same store sales rose 7.0% w/o/w, up from previous 6.7% increase.
4. FHFA house price index rose 0.4%, higher than expected 0.3% increase.
5. PMI composite rose to 54.5, greater than previous 54.2.

Negatives:

1. Shutdown grounds some flights at LaGuardia and other airports do not have enough Air Traffic Controllers;
2. Leading economic indicators fell 0.1% m/o/m, down from previous 0.2% rise.
3. Existing home sales fell 6.4% m/o/m, down from previous 2.1% increase.
4. Mortgage applications fell a seasonally adjusted 2.0% w/o/w, down from previous 9.0% increase.
5. Richmond fed manufacturing index came in at -2, meeting expectations.

Thanks, Matt!

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