Succinct Summation of Week’s Events for 9.18.20

Succinct Summations for the week ending September 18th, 2020

Positives:

1. Progress continues to be made on Covid vaccines and treatments.
2. Jobless claims fell 33k w/o/w.
3. Housing market index stands at 83 for September, above expectations.
4. Import prices rose 0.9% m/o/m, above expectations.
5. Export prices rose 0.5% m/o/m, above expectations.
6. Business inventories rose 0.1% m/o/m, above expectations.

Negatives:

1. Shockingly, we still have no agreement from Congress on stimulus.
2. Home mortgage apps fell 1.0% w/o/w.
3. The current account deficit widened to $-170.5B in Q2.
4. Housing starts came in at an annual rate of 1.416M for August, below expectations.
5. Industrial production rose 0.4% m/o/m, below expectations.
6. Retail sales rose 0.6% m/o/m, below expectations.

Thanks, Matt

 

 

Source: YCharts

 

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