Succinct Summation of Week’s Events 9.15.17

September 16, 2017
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Succinct Summations for the week ending September 15th, 2017

Positives:

1. S&P500, Dow Jones Industrial Average, and NASDAQ Composite all made new all-time highs.
2. Consumer prices rose 0.4% m/o/m, above expectations for the first time since February. Core rose 0.2%, in line with expectations.
3. Job openings rose to a higher than expected 6.17 million, up 0.9% from June.
4. Empire manufacturing remains strong, coming in at 24.4 versus the 19 expected.
5.NFIB small business optimism index came in at 105.3, matching the 12-year high set in January.

Negatives:

1. Retail sales fell 0.2% m/o/m, their biggest decline in six months. MBA mortgage applications rose 9.9% w/o/w, the purchase index rose 11%.
2. Producer prices rose just 0.2%, below expectations for the third straight month.
3. New jobless claims came in at 284k, the 4-week moving average rose from 250.25k to 263.25k.
4. Industrial production fell 0.9%, well below the 0.1% expected increase.

Thanks, Mike!

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