Succinct Summation of Week’s Events for 11.27.20

November 27, 2020 4:30pm by

Succinct Summations for the week ending November 27th, 2020

Positives:

1. POTUS belatedly admits loss, allows GSA to begin transition.
2. Home mortgage apps rose 4.0% for the second straight week.
3. FHFA House Price Index rose 1.7% m/o/m, above the expected increase of 0.9%.
4. Chicago Fed National Activity Index came in at 0.83 for October, above the expected 0.1
5. PMI Composite came in at 57.9 for November, above the expected 55.6.
6. Wholesale inventories rose 0.9% m/o/m, above the previous increase of 0.7%.

Negatives:

1. Congress still dithering over aid package as as 26 million Americans on food lines reach new records.
2. Concerns about Astra Zeneca vaccine raises questions about widespread distribution.
3. Jobless claims rose 30k w/o/w from 748k to 778k.
4. Durable goods orders rose 1.3% w/o/w, below the previous increase of 2.1%.
5. New home sales fell to an annual rate of 999k in October, down from previous 1.002M.
6. Retail inventories rose 0.8% m/o/m, below the previous increase of 1.7%.

Thanks, Matt!

 

 

S&P500 is Up 12.6% YTD for 2020

Source: YCharts

 

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