Succinct Summation of Week’s Events 8.9.19

Succinct Summations for the week ending August 9th, 2019

Positives:

1. Jobless claims fell 8k w/o/w from 217k to 209k.
2. Home mortgage refinance apps rose 12.0% w/o/w, up from previous increase of 0.1%
3. Same store sales rose 5.1% w/o/w, greater than the previous increase of 4.5%.
4. PPI-FD rose 0.2% m/o/m, meeting expectations.
5. PMI Services Index rose from 51.5 to 53.0 m/o/m, higher than the expected 52.2.

Negatives:

1. Home mortgage purchase apps fell 2.0% w/o/w, following the previous decrease of 3.0%
2. Job openings fell 0.5% m/o/m from 7.384M to 7.348M.
3. Consumer credit rose to $14.6B in June, below the expected $16.0B.
4. Wholesale inventories remain unchanged m/o/m, below the expected increase of 0.2%.
5. ISM Non-Mfg Index fell 1.4 points m/o/m from 55.1 to 53.7

Thanks, Matt

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