Succinct Summations for the week ending March 6th, 2020
Positives:
1. Poor performance by the leading Socialist running for President gave markets a warm fuzzy.
2. Non-farm payrolls rose 273k m/o/m, above the expected increase 177k.
3. Same store sales rose 5.9% w/o/w, above the previous increase of 5.4%.
4. Jobless claims fell 3k m/o/m from 219k to 216k.
5. Home refinance apps rose 26.0% w/o/w, above the previous decrease of 1.0%.
6. Unemployment rate came in at 3.6%, below the previous 3.5%.
7. Construction spending rose 1.8% m/o/m, above the expected increase of 0.6%.
Negatives:
1. Bond markets fall to record low yields, warning something wicked this way comes.
2. Home mortgage apps fell 3.0% w/o/w, below the previous increase of 6.0%.
3. Non-farm productivity rose 1.2% q/o/q, below the expected increase of 1.4%.
4. Factory orders fell 0.5% m/o/m, below the previous increase of 1.9%.
5. Private payrolls came in at 183k for February, below the previous 209k.
6. PMI Services Index came in at 49.4 for February
7. ISM Mfg Index came in at 50.1 for February
Thanks, Matt!
