Succinct Summations for the week ending June 12th, 2020
Positives:
1. FOMC Chair Powell says low rates are here til 2021 or longer;
2. Weekly Jobless claims fell 335k from 1.877M to 1.542M.
3. Home mortgage apps rose 5.0% for a second straight week.
4. PPI-FD rose 0.4% m/o/m, above the expected increase of 0.1%.
5. Consumer sentiment is at 78.9 for June, above the expected 75.0.
Negatives:
1. Re-Opening States are full blown disaster; South and West in particular see big increase in infection rates.
2. Fed Chair Powell see weak, slow economic recovery;
3. Same store sales fell 9.7% w/o/w.
4. Job openings fell from 6.011M to 5.046M in April, below expectations.
5. CPI fell 0.1% m/o/m below expectations.
Thanks, Matt!
