Succinct Summations for the week ending October 16th, 2020
Positives:
1. Increasing signs of a decisive, earlier election result harkens markets.
2. Retail sales rose 1.9% m/o/m, above expected increase of 0.7%.
3. Import prices rose 0.3% and export prices rose 0.6% m/o/m.
4. PPI-FD rose 0.4% w/o/w, above the expectations.
5. Consumer sentiment is at 81.2 for October, above the expected 80.5.
Negatives:
1. In 7 decades of televised presidential debates, this was the first one ever to be cancelled.
2. Jobless claims rose 53k w/o/w from 845k to 898k, above the expected 825k.
3. Home mortgage apps fell 2.0% w/o/w; Home refinance apps fell 0.3% w/o/w.
4. CPI rose 0.2% m/o/m, below the previous increase of 0.4%.
5. Industrial production fell 0.6% m/o/m, below the expected increase of 0.6%.
6. Business inventories rose 0.3% m/o/m, below the expected increase of 0.4%.
Thanks, Matt!
