Succinct Summation of Week’s Events 4.26.18

Succinct Summations for the week ending April 26th, 2019

Positives:

1. S&P 500 & Nasdaq set new all time highs, as all of the Q4 drawdone were recovered;
2. Real GDP rose 3.2% in Q1, above the expected increase of 2.3%
3. New home sales came in at 692k for March, above the expected 645k.
4. Same store sales rose 6.0% w/o/w, up from previous 5.0% increase.
5. New orders for durable goods rose 2.7% m/o/m, above expected increase of 0.7%.
6. Consumer sentiment index rose to 97.2 in April, meeting expectations.

Negatives:

1. White House staff encouraged by POTUS to ignore Congressional subpoenas, so we have that going for us, which is nice . . .
2. Existing home sales fell 4.9% m/o/m from 5.480M to 5.210M.
3. Home mortgage apps fell 4.0% w/o/w, below the previous 1.0% increase.
4. Jobless claims rose 37k w/o/w, from 193k to 230k.
5. Crude oil inventories rose 5.5M barrels w/o/w to 460.6M.
6. FHFA House Price Index rose 0.3% m/o/m, below the expected increase of 0.4%.

Thanks, Matt!