Succinct Summations for the week ending November 22nd, 2019
1. Q3 Earnings continue to come in stronger than expected;
2. Existing home sales rose 1.9% m/o/m, from 5.360M to 5.460M.
3. Home mortgage apps rose 7.0% w/o/w, above the previous increase of 5.0%.
4. Index of Leading Indicators fell 0.1% m/o/m, above the expected decrease of 0.2%.
5. PMI Composite rose 0.6 m/o/m from 51.6 to 52.2.
6. Consumer sentiment came in at 96.8 in November, above the expected 95.7
1. Markets sell off for the week as trade deal seems to be DOA. falling apart. Hard to believe Charlie Brown traders still fall for Lucy’s same football trade deal tricks;
2. Jobless claims remained the same for the week at 227k, above the expected 217k.
3. Same store sales rose 4.1% m/o/m, decelerating from the previous increase of 5.0%.
4. Housing starts came in at 1.314M in October, below the expected 1.320M.
5. Home mortgage refinance apps fell 8.0% w/o/w, below the previous increase of 13.0%.
6. Housing market index fell 1 point in November to 70, below the expected 71.