Succinct Summations for the week ending July 5th, 2019
1. Once again markets show resilience, recover from a weak start;
2. Non-farm payrolls rose 224k m/o/m, above the expected increase of 165k .
3. Same store sales rose 5.5% w/o/w, greater than the previous increase of 5.0%.
4. Unemployment rate came in at 3.7%, meeting expectations.
5. Jobless claims fell 8k w/o/w from 229k to 221k.
6. Home mortgage apps rose 1.0% w/o/w, higher than previous decrease of 1.0%.
1. Russian state media mock Trump July Fourth Military Parade as “a national embarrassment;”
2. ADP employment report shows an increase of 102k for June, below the expected 140k.
3. Construction spending fell 0.8% m/o/m, below the expected increase of 0.1%.
4. Factory orders fell 0.7% m/o/m, more than the expected decrease of 0.5%.
5. International trade deficit widened to $-55.5B, greater than the expected $-53.5B.
6. ISM mfg index came in at 51.7 for June, lower than the previous 52.1.