Succinct Summation of Week’s Events. 2.22.18

Succinct Summations for the week ending February 22nd, 2019.

Positives:

1. U.S. indexes edged higher, the S&P now ~5% off all-time highs;
2. Same store sales rose 5.4% w/o/w, greater than previous 4.6% rise.
3. Jobless claims fell 23k w/o/w, from 239k to 216k.
4. New orders for durable goods rose 1.2% m/o/m.
5. Home mortgage apps rose 1.7% w/o/w, after 4 straight weekly declines.

Negatives:

1. Political disfunction continues unabated, as more damning information continues to be revealed. Mueller Report release as early as next week promises more mayhem.
2. Leading Economic Indicators fell 0.1% m/o/m (consensus 0.1% rise).
3. Existing home sales fell 2.1% in January, from 4.990M to 4.940M.
4. Farm prices rose 1.8% m/o/m, decelerating from previous 3.5% rise.
5. PMI manufacturing flash fell 1.2 points m/o/m, from 54.9 to 53.7.

Thanks, Matt!

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