Succinct Summations for the week ending April 9th, 2021
Positives:
1. Markets gain strength as economic re-opening and recovery accelerate.
2. Job openings rose to 7.367M in February, above expectations.
3. Consumer credit rose $27.6B in February, above expectations.
4. ISM Services Index came in at 63.7 for March, expectations.
5. PMI Composite came in at 59.7 for March, above expectations.
Negatives:
1. Upswing in infections and worse variants threatens entire recovery;
2. Home mortgage apps fell 5.0% w/o/w, below previous decrease.
3. Jobless claims rose 16k w/o/w from 728k to 744k, above expectations.
4. International trade in goods and services fell from $-67.8B to $-71.1B in February.
5. Factory orders fell 0.8% m/o/m, below prior increase of 2.6%.
Thanks, Matt.
Oil Up 24.7%, Gold Down 8.5% (SPX +10%) Year to Date
