Succinct Summation of Week’s Events 5.22.20

May 22, 2020 5:30pm by

Succinct Summations for the week ending May 22nd, 2020

Positives:

1. Markets seem to find more stability on improving Covid-19 treatment news
2. Index of leading economic indicators fell 4.4% m/o/m, above expected decrease of 5.9%.
3. E-Commerce retail sales rose 2.4% w/o/w, above the previous increase of 2.2%.
4. Home mortgage apps rose 6.0% w/o/w, rising again after the previous 11% increase.
5. PMI Composite stands at 36.4 for May, above the previous 27.4.

Negatives:

1. Early signs of hasty re-opening are greater a 10% increase in infection rates
2. Jobless claims fell from 2.687M to 2.438M w/o/w, above the expected 2.375k.
3. Same store sales fell 9.5% w/o/w, down from the previous decrease of 7.5%. .
4. Existing home sales fell from 5.270M to 4.330M in April.
5. Housing starts came in at 0.891M for March, below the expected 0.968M.
6. Home refinance apps fell 6.0% w/o/w, below the previous decrease of 3.0%.

Thanks, Matt

 

 

 

 

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