Succinct Summations week ending May 16th
1. U.S. jobless claims come in at 297k, lowest level since May 2007.
2. Rail traffic 12 week moving average is the highest it’s been since 2011.
3. Small business optimism jumps to its highest level since October 2007
4. U.K’s FTSE closed a highest level since 1999
5. Empire manufacturing beats expectations at 19, highest levels since 2010.
6. The S&P 500 hit 1900 for the first time ever.
7. Autos accounted for 20%+ of total retail sales for the first time since 2007.
8. The Dow and S&P 500 made new all-time closing highs.
1. Wholesale costs (PPI) notched the biggest increase since 2012.
2. CPI rose 2% in April, y/o/y, the biggest increase since July 2013.
3. Retail sales disappointed, climbing just 0.1% (vs expectations of 0.4% rise).
4. Factory production fell 0.4% m/o/m.
5. Retail sales ex-autos came in flat (vs expectations of 0.6% rise).
6. Core CPI rose 1.8% y/o/y, the biggest gain since last August.
7. 10-year yield under 2.50%, catching most people off sides.
8. The Philly fed came in at 15.4, down from 16.6 in April.
9. U of Michigan consumer confidence fell to 81.8 v expectations of 84.5
10. NAHB Homebuilder Sentiment fell to 45 from 47 in April (which was revised down to 46).
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
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