Succinct Summations for the week ending January 8th, 2021
1. Markets rally on hopes of more stimulus – and less chaos – as Democrats sweep Georgia Senate races.
2. Jobless claims fell 3k w/o/w from 790k to 787k.
3. Unemployment rate remains unchanged at 6.7%, below expectations.
4. Home mortgage apps fell 0.8% w/o/w.
5. Factory orders rose 1.0% m/o/m, above expectations.
6. PMI Manufacturing came in at 57.1 for December, above expectations.
7. ISM Services index came in at 57.2 for December, above expectations.
1. Armed Insurrection in the nation’s capitol damages USA’s global reputation even further.
2. Worst Covid-19 single day ever as deaths exceed 4,000 with 200,000 new infections.
3. Non-farm payrolls fell 140k m/o/m, below expectations.
4. ADP private payrolls fell by 123k m/o/m, below expectations.
5. Corporate layoffs came in at 77,030 for December.
6. Construction spending rose 0.9% m/o/m.
7. PMI Composite came in at 55.3 in December, below expectations.
S&P500 is up 54% from the pandemic lows of March 2020