Succinct Summations for the week ending March 13th, 2020
Positives:
1. All things considered, it could have been much worse this week. Market finished down 8.8%.
2. Jobless claims fell 4k w/o/w from 215k to 211k.
3. Home mortgage apps rose 6.0% w/o/w, above previous decrease.
4. Home refinance apps rose 79.0%, above the previous increase.
5. CPI rose 0.1% m/o/m, meeting expectations.
6. NFIB Small Business Optimism Index came in at 104.5 for Feb.
Negatives:
1. POTUS & his team clearly not up to dealing with a global pandemic.
2. ISM reports that 70% of its respondents experienced a coronavirus disruption.
3. Import prices fell 0.5% m/o/m, below the previous no change.
4. Export prices fell 1.1%, below the previous increase of 0.7%.
5. Consumer Sentiment Index is at 95.9 for March, below expectations.
6. PPI-FD fell 0.6% m/o/m, below the previous increase.
Thanks, Matt
S&P 500 Index, One Year
