Succinct Summation of Week’s Events 12.11.20

December 11, 2020 5:30pm by

Succinct Summations for the week ending December 11th, 2020

Positives:

1. FDA Approval of Pfizer Covid Vaccine means distribution is imminent;
2. Job openings rose from 6.494M to 6.652M in October, above expectations.
3. Wholesale inventories rose 1.1% m/o/m, above expectations.
4. CPI rose 0.2% m/o/m, above expectations.
5. Consumer sentiment stands at 81.4 for December, above expectations.

Negatives:

1. Awful COVID week : 210k new cases, 106,688 hospitalizations, 3,054 deaths – all single day records.
2. Jobless claims increased by 137k w/o/w from 716k to 853k.
3. Home mortgage apps fell 5.0% w/o/w, below the previous increase of 9.0%.
4. Consumer Credit rose $7.2B m/o/m, below the expected increase of $17.0B.
5. NFIB Small Business Optimism Index came in at 101.4 for November, below expectations.

Thanks. Matt

 

Russell 2000 Small Caps Rally to All-Time Highs

Source: YCharts

 

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