Succinct Summations for the week ending January 31st, 2020
1. Impeachment process is drawing to a close; 2. Home mortgage apps rose 5.0% w/o/w. 3. GDP rose 2.1% in Q4, meeting expectations. 4. Same store sales rose 5.5%. 5. Durable goods orders rose 2.4% m/o/m. 6. Jobless claims fell 7k w/o/w from 223k to 216k. 7. Consumer confidence came in at 131.6 for January.
1. America’s standing in the world continues to fall on embarrassing revelations, partisanship, and cronyism; 2. New home sales came in at 694k for December, below expectations. 3. Pending home sales fell 4.9% m/o/m, below expectations. 4. Personal income rose 0.2% m/o/m, below expectations. 5. Consumer spending rose 0.3% m/o/m, below expectations. 6. International trade gap widens to $-68.3B in Dec. 7. Wholesale inventories fell 0.1% m/o/m, below prior month.