Succinct Summations for the week ending March 1st, 2019
Positives:
1. Former POTUS attorney Michael Cohen’s testifies to Congress, bringing this entire mess another step closer to ending;
2. GDP rose 2.6% for Q4, meeting high end of expectations.
3. Home mortgage apps rose 6.0% w/o/w, up from previous 1.7% rise.
4. Wholesale trade rose 1.1% m/o/m, beating the expected 0.3%.
5. Pending home sales rose 4.6% m/o/m, beating the expected 1.0%.
6. Retail inventories rose 0.9% m/o/m, while wholesale inventories rose 1.1% m/o/m.
Negatives:
1. No luck in denuclearizing the Korean Peninsula as Hanoi Summit is a bust;
2. Same store sales rose 5.2% w/o/w, decelerating from previous 5.4%.
3. Housing starts fell 11.2% m/o/m, from 1.214M to 1.078M.
4. Jobless claims rose 8k w/o/w from 217k to 225k.
5. Farm prices fell 4.5% m/o/m, down from previous 1.8% rise.
6. Factory orders rose 0.1% m/o/m, missing the expected 0.6% rise..
Thanks, Matt!
