Due to the holiday, I'll keep it brief this week and include only the usual succinct summation.  Not much to report, the internships interviews are going slow, but classes are quickly approaching in another six weeks.  My new computer is at long last up and running and it works beautifully except for three little bugs, hopefully to be fixed during the coming week, that are preventing an Internet connection so I'm still on the laptop.  I'm shooting for the New Year now for returning to daily postings.  Hope everyone had a great week and a Merry Christmas.

Succinct Summations of Week’s Events 12/16/16

December 16, 2016 4:30pm by Barry Ritholtz

Succinct Summations for the week ending December 16th, 2016

Positives:

1. Federal Reserve (finally) raised rates by 25 basis points.
2. Jobless claims fell from 258k previously to 254k.
3. PPI rose 0.4% m/o/m and 1.3% y/o/y.
4. Inflation remains subdued, with CPI and the core rising just 0.2% m/o/m.
5. Philadelphia Fed business outlook survey accelerated from 7.6 previously to 21. 5, well above the 10 expected; Empire state manufacturing survey rose from 1.5 to 9, well above the expected reading of 3.
6. PMI manufacturing flash came in at 54.2, up from 53.9 previously.
7. Import prices fell 0.3% m/o/m; ex-petroleum they were flat

Negatives:

1. FOMC warned 3 more rate increases coming in 2017
2. November housing starts fell 18.7% in November to a 1.090M annualized rate, lower than 1.23M expected.
3. Retail sales rose just 0.1%m/o/m, autos fell 0.5%, the sharpest drop since March.
4. Mortgage applications fell 4% w/o/w.
5. Industrial production fell 0.4% m/o/m, manufacturing fell 0.1%.