Succinct Summations for the week ending September 27th, 2019
1. Impeachment is finally here, and markets are n0w that much closer to resolving that uncertainty . . .
2. GDP rose 2.0% according to the third estimate for Q2.
3. New home sales rose to an annual rate of 713k in August, above previous 666k.
4. Pending home sales rose 1.6% m/o/m, above the expected increase of 0.6%.
5. New orders for durable goods rose 0.2% m/o/m, above the previous decrease of 1.2%.
6. Wholesale inventories rose 0.4% w/o/w, above the previous increase of 0.2%.
7. FHFA House Price Index rose 0.4% m/o/m, above the expected increase of 0.2%.
8. PMI Composite came in at 51.0 for September, within the range of expectations.
1. IPOs continue to struggle, as WeWork gets postponed and Peleton comes out below IPO price.
2. Same store sales rose 5.2% w/o/w, decelerating from the previous increase of 5.4%.
3. Corporate profits rose 0.3%, below the previous increase of 1.7%.
4. Retail inventories remain unchanged after the previous increase of 0.8%.
5. Consumer spending rose 0.1% in August, below the previous increase of 0.5%.
6. Consumer confidence fell from 135.1 to 125.1 m/o/m, below the expected 133.0.
7. Jobless claims rose 3k w/o/w from 210k to 213k.
8. Home mortgage app fell 3.0% w/o/w after the previous increase of 6.0%