Succinct Summations for the week ending May 7th, 2021
1. Weak Jobs data supportive of more fiscal stimulus.
2. Jobless claims fell 92k w/o/w from 590k to 498k.
3, Non-farm productivity rose 5.4% in Q1, above expectations.
4. PMI Manufacturing came in at 60.5 for April, above previous levels.
5. PMI Composite came in at 63.5 for April, above expectations.
6. Factory orders rose 1.1% m/o/m, above previous decrease.
1. Non-farm payrolls rose 266k m/o/m, below expectations of1m+
2. Unemployment rate came in at 6.1% for April, above the previous 6.0%.
3. Private payrolls rose 218k m/o/m, below expectations.
4, Home mortgage apps fell 3.0% w/o/w after the previous decrease of 5.0%.
5, ISM Services index came in at 62.7 for April, below the previous 64.2.
6, ISM Manufacturing index came in at 60.7 for April, below expectations.
Copper is Up 35% YTD