Succinct Summations for the week ending December 20th, 2019
1. As we learned in 1998, Markets don’t care about Impeachment.
2. All time highs are now, and always, bullish for markets.
3. Consumer spending increased 0.4% m/o/m.
4. Personal income rose 0.5% m/o/m, above prior increases.
5. Housing starts came in better than expected at 1.365M.
6. Industrial production rose 1.1% m/o/m, above expectations.
7. Consumer sentiment hits 99.3 for December, above expectations.
1. Only the 3rd U.S. President to ever be Impeached — No other way to say this: disgraceful behavior has led to a national embarrassment;
2. Corporate profits fell 1.1% y/o/y, below prior decrease of 0.4%.
3. Same store sales rose 4.6% w/o/w, below last month.
4. Existing home sales fell from 5.440M to 5.350M.
5. PMI Composite came in at 52.2 for December, below expectations.
6. Jobless claims fell 18k w/o/w from 252k to 234k.
7. Home mortgage apps fell 2.0% w/o/w, below prior decrease of 0.4%.