Succinct Summations for the week ending March 26th, 2021
1. More than half a billion vaccinations (505 million) have been administered across 140 countries, ~12.7 million/day. That includes 137 million doses in the US, or >2.6m/day.
2. Home mortgage apps rose 3.0% w/o/w, above previous 2.0% increase.
3. Jobless claims fell 97k w/o/w from 781k to 684k.
4. Consumer sentiment came in at 84.9 for March, above expectations.
5. PMI composite is at 59.1 for March, above expectations.
1. Infections in the USA are rising, due to complacency and new variants.
2. New home sales came in at an annual rate of 775k in February, below expectations.
3. Existing home sales fell 6.6% m/o/m, below previous increase of 0.2%.
4. Durable goods orders fell 1.1%, below expectations.
5. Personal income fell 7.1% m/o/m, below previous increase of 10.1%.
6. Corporate profits rose 4.1% y/o/y, below the previous increase of 10.3%.
2021 (so far): Small Cap Beats Large Cap Beats Tech