Succinct Summations for the week ending May 15th, 2020
Positives:
1. Promising advances in potential Covid-19 treatments;
2. Business inventories fell 0.2%, below expectations.
3. Home mortgage apps rose 11.0% w/o/w, above the previous increase of 6.0%.
4. NFIB Small Business Optimism Index came in at 90.0 for April, above expectations.
5. Atlanta Fed business expectations rose 1.5% y/o/y
6. Consumer sentiment came in at 73.7 for May, above expectations.
Negatives:
1. USA has only 5% of global population, but 30% of Covid-19 deaths/infection.
2. Jobless claims came in at 2.981M for the week, above expectations.
3. Retail sales fell 16.4% m/o/m, below expectations.
4. Job openings fell 813k in March from 7.004M to 6.191M.
5. CPI fell 0.8% m/o/m, below the previous decrease of 0.4%.
6. PPI-FD fell 1.3% m/o/m, below the expected decrease of 0.5%.
7. Industrial production fell 11.2% m/o/m.
Thanks, Matt!
