Succinct Summation of Week’s Events 9.4.20

September 4, 2020 4:00pm by

Succinct Summations for the week ending September 4th, 2020

Positives:

1. Economy continues to slowly heal from the pandemic devastation.
2. Jobless claims fell 77k w/o/w from 958k to 881k.
3. Unemployment rate came in at 8.4%, below the previous 10.2%.
4. Corporate layoffs came in at 115,762 for August, below the previous 262,649.
5. Factory orders rose 6.4% m/o/m, above the expected increase of 6.0%

Negatives:

1. FAANMGs get smushed on worst trading day of the year since the March crash.
2. Non-farm payrolls rose 1.371M in August, below the expected increase of 1.400M.
3. Home mortgage apps fell 0.2% w/o/w, below the previous increase of 0.4%.
4. Private payrolls rose by 428k, below the expected increase of 900k.
5. Construction spending rose 0.1%, below the expected increase of 1.0%.

Thanks, Matt

 

Source: YCharts

 

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