Succinct Summations for the week ending February 1st, 2019
1. The Fed Put returns! Chairman Powell blinks, reveals his fear of market volatility.
2. Nonfarm payrolls rose 304k m/o/m, nearly doubling the expected 158k;
3. New home sales rose to 657k in November, higher than expected 560k.
4. Private payrolls rose to 213k, higher than the expected 174k
5. PMI manufacturing index rose to 54.9 in January, up from previous 53.8.
6. Construction spending rose 0.8% m/o/m, up from previous 0.1% decrease.
7. ISM mfg index rose to 56.6, higher than expected 54.0.
1. Next government shut down is 2 weeks away;
2. Unemployment rate rose to 4.0%, up slightly from previous 3.9%.
3. Same store sales rose 5.8 % w/o/w, down from previous 7.0% rise
4. Home mortgage applications fell a seasonally adjusted 2.0% w/o/w.
5. Pending home sales fell 2.2% m/o/m, lower than the expected 0.3% rise.
6. Jobless claims rose 53k w/o/w, from 200k to 253k.
7. Consumer confidence fell to 120.0 in January, down from previous 126.6.