Succinct Summation of Week’s Events for 8.28.20

August 28, 2020 4:30pm by Barry Ritholtz

Succinct Summations for the week ending August 28th, 2020

Positives:

1. Rates are never, ever, ever going to go higher again!
2. New home sales came in at an annual rate of 901k for July, above expectations.
3. Durable goods orders rose 11.2% m/o/m, above last month.
4. Pending home sales rose 5.9% m/o/m, above expectations.
5. Personal income rose 0.4% m/o/m, above expectations.
6. Retail inventories rose 1.2% m/o/m, above expectations.

Negatives:

1. Social unrest and police misbehavior continues to tear at the fabric of society.
2. Jobless claims rose 19k w/o/w from 987k to 1.006M.
3. Home mortgage apps rose 0.4% w/o/w, below the previous increase.
4. Corporate profits fell 20.1% y/o/y, below the previous decrease.
5. Consumer confidence is at 84.8 for August below expectations.
6. Chicago Fed National Activity Index came in at 1.18 for July.

Thanks, Matt!

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