Succinct Summations for the week ending March 20th, 2020
Positives:
1. Looks like a trillion dollar stimulus package is coming next week.
2. Job openings came in at 6.963M for January, above the expected 6.400M.
3. Housing starts came in at 1.599M for February, above the expected 1.520M.
4. Existing home sales came in at 5.770M for February, above the expected 5.500M.
5. Industrial production rose 0.6% m/o/m, above the expected increase of 0.4%.
6. Same store sales rose 8.5% w/o/w, above the previous increase of 6.0%.
Negatives:
1. USA likely already in recession; unemployment levels might exceed 20%.
2. Jobless claims rose 70k w/o/w from 211k to 281k.
3. Home mortgage apps fell 1.0% w/o/w, below the previous increase of 6.0%.
4. Retail sales fell 0.5% m/o/m, below the expected increase of 0.2%.
5. Business inventories fell 0.1% m/o/m, below the previous increase of 0.1%.
6. Housing market index stands at 72 for March, below the expected 74.
Thanks, Matt.
