Succinct Summations for the week ending December 18th, 2020
Positives:
1. US begins distribution of Pfizer Covid vaccine; we are closer to the end than the beginning;
2. Hope springs eternal for a deal on a Congressional Covid Rescue package to cover the long dark winter.
3. Home mortgage apps rose 2.0% w/o/w, above the previous decrease of 5.0%.
4. Business inventories rose 0.7% m/o/m, above the expectations.
5. Index of leading indicators rose 0.6% m/o/m, above expectations.
6. Current account deficit came in at $-178.5B for Q3, above expectations.
7. Housing starts came in at an annual rate of 1.547M for November, above expectations.
Negatives:
1. Massive Russian hack compromises US national security, military secrets and other crucial functions.
2. Pandemics most deadly day in as over 3600 Americans die;
3. Jobless claims rose 23k w/o/w from 862k to 885k.
4. Housing market index is at 86 for December, below expectations.
5. Retail sales fell 1.1% m/o/m, below expectations.
6. Industrial production rose 0.4% m/o/m, below the previous increase of 0.9%.
7. PMI Composite is at 55.7 for December, below expectations.
Thanks, Matt!
S&P500 Up 18% over past 6 months
Source: YCharts
