Succinct Summations for the week ending October 25th, 2019
Positives:
1. Markets within a % of all time highs.
2. New home sales came in at an annual rate of 701k for Sept.
3. PMI Composite rose from 51.0 to 51.2 m/o/m.
4. Same store sales rose 4.3% w/o/w, above the previous increase of 4.1%.
5. Jobless claims fell 6k w/o/w, from 218k to 212k.
6. Consumer sentiment finished at 95.5 for October, meeting expectations.
Negatives:
1. Impeachment strengthening; Ambassadors’ testimony very damning;
2. Trade war resolution on periphery, not core issues;
3. Existing home sales fell 2.2% m/o/m, below prior 1.5%.
4. Durable goods orders fell 1.1% m/o/m, below expected 0.7%.
5. MBA mortgage apps fell 4.0% w/o/w; MBA refinance apps fell 17.0%;
6. FHFA House Price Index rose 0.2% m/o/m, below expected increase of 0.4%.
Thanks, Matt!
