Succinct Summations for the week ending July 21st, 2017:
1. S&P 500, NASDAQ 100, and Russell 2000 each made new all-time highs this week.
2. Leading indicators rose 0.6% in June, above the 0.5% estimated increase.
3. Housing starts rose 8.3 percent in June to a 1.215 million annualized rate;
4. MBA mortgage composite rose 6% w/o/w. Refinances rose 13%.
5. Jobless claims fell to 233k, down from 247k previously.
1. The Empire State index came in at 9.8 in July, below the 15 expected and down from 19.8 previously.
2. Inflation continues to be absent with import and export prices both falling 0.2% m/o/m.
3. The Philly General Business Conditions Index fell from 27.6 to 19.5