Succinct Summations for the week ending January 31st, 2020
Positives:
1. Impeachment process is drawing to a close;
2. Home mortgage apps rose 5.0% w/o/w.
3. GDP rose 2.1% in Q4, meeting expectations.
4. Same store sales rose 5.5%.
5. Durable goods orders rose 2.4% m/o/m.
6. Jobless claims fell 7k w/o/w from 223k to 216k.
7. Consumer confidence came in at 131.6 for January.
Negatives:
1. America’s standing in the world continues to fall on embarrassing revelations, partisanship, and cronyism;
2. New home sales came in at 694k for December, below expectations.
3. Pending home sales fell 4.9% m/o/m, below expectations.
4. Personal income rose 0.2% m/o/m, below expectations.
5. Consumer spending rose 0.3% m/o/m, below expectations.
6. International trade gap widens to $-68.3B in Dec.
7. Wholesale inventories fell 0.1% m/o/m, below prior month.
Thanks, Matt
