Succinct Summation of Week’s Events for 02.05.21

February 5, 2021 4:30pm by

Succinct Summations for the week ending February 5th, 2021

Positives:

1. Markets rally on Covid /Stimulus plans
2. Unemployment rate came in at 6.3% for January, down from previous 6.7%.
3. Jobless claims fell 33k w/o/w from 812k to 779k.
4. Home mortgage apps rose 0.1% w/o/w, above the previous decrease of 4.0%.
5. PMI Composite came in at 58.7 for January, above the prio 55.3.
6. ISM Services index came in at 58.7 for January, above expectations.

Negatives:

1. GOP refuses to discipline Q-Anon Congresswoman and advocate of Congressional executions.
2. Non-farm payrolls rose 49k m/o/m, below expectations.
3. Non-farm productivity fell 4.8% annually, below expectations.
4. Private payrolls rose 6k m/o/m, below expectations.
5. Factory orders rose 1.1% m/o/m, below prior increase.
6. Construction spending rose 1.0% m/o/m, below prior increase.

Thanks, Matt.

 

S&P500 Rallies all week on Covid Rescue / Stimulus Plan

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