Succinct Summation of Week’s Events 3.22.19

Succinct Summations for the week ending March 22nd, 2019:

Positives:

1. Mueller report drops; perhaps the country can begin to move on?
2. Existing home sales rose 11.8% m/o/m, from 4.930M to 5.510M.
3. Same store sales rose 4.9% w/o/w, up from previous 4.4% rise.
4. Jobless claims fell 9k w/o/w from 230k to 221k.
5. Wholesale inventories rose 1.2% m/o/m, beating the expected 0.1%.
6. Crude oil inventories fell by 9.6M barrels w/o/w to 439.5M.

Negatives:

1. Yield curve inverted, raising odds of a recession over the next 18 months;
2. There will be nowhere to escape speculation about what comes post-Mueller report drops;
3. After a strong start, Markets finish the week down 1%;
4. Factory orders rose 0.1% m/o/m, meeting the low end of expectations.
5. PMI composite came in at 54.3 for March, missing the expected 55.2.
6. MBA mortgage apps rose 0.3% w/o/w, decelerating from previous 4.0% rise.

 

Thanks, Matt!