Okay, I'm a day late and a dollar short this week but I had a minor surgical procedure this morning (thankfully I got a good report) for which I spent the weekend in prep so I am just now getting to this.  But hey, it's Christmas week.  I'm taking the week off, if for no other reason that the doctor doesn't want me driving or doing anything that requires concentration for two days.  Also because I've earned it.  But even though it is a day late, I still offer last week's succinct summation for your consideration.  Have a Happy New Year!  See you next year.

Succinct Summation of the Week’s Events 12.23.16

December 23, 2016 4:00pm by Barry Ritholtz

Succinct Summations for the week ending December 23rd, 2016

Positives:

1. Q3 GDP was revised up to 3.5%, from 3.2% earlier.
2. New home sales rose 5.2% to a 592k annualized rate.
3. Consumer confidence hit a new cycle high of 98.2 in December.
4. Orders for defense aircrafts doubled last month, rising 103%. Core capital goods (non defense ex-aircraft) rose 0.9%.
5. MBA mortgage applications rose 2.5% w/o/w, despite increasing mortgage rates.
6. Existing home sales rose to a 5.61M SAAR, up 0.7% m/o/m and 15.4% y/o/y.

Negatives:

1. Personal income was unchanged in November, below the expected 0.3% rise.
2. Jobless claims rose 21k to 275K.
3. Durable goods fell 4.6% m/o/m and 1.9% y/o/y.
4. Corporate profits rose 4.3% y/o/y, below the 5.2% expected increase.
5. PMI services flash fell from 54.7 to 53.4 (still near a 12-month high)