It's that time of week again for the traditional succinct summation with new record highs all around and jobless claims down sharply. How long can we stay above 21,000?  Next week may tell the tale.  Hope everyone enjoyed their weekend.  

Succinct Summation of Week’s Events 3.3.17

March 3, 2017 4:30pm by Barry Ritholtz

Succinct Summations for the week ending March 3rd, 2017

Positives:

1. U.S. stocks hit new record highs, with the S&P 500 rising for the sixth straight week.
2. Core PCE rose 0.3% to a 1.9% y/o/y change, the strongest since 2012.
3. Durable good orders rose 1.8% m/o/m.
4. Chicago PMI surged to 57.4, up from 50.3 previously.
5. Consumer confidence hit a new cycle high, rising from 111.8 to 114.8.
6. The second revision to Q4 GDP shows 1.9% growth Q/O/Q.
7. S&P Case-Shiller 20-city index rose 0.9% m/o/m and 5.6% y/o/y.
8. MBA mortgage applications rose 5.8% w/o/w.
9. Jobless claims fell to 223k and the 4-week average fell sharply to 234.25k.

Negatives:

1. Much of the durable good order advance was due to aircrafts. Excluding them, durable goods actually fell 0.2%.
2. Construction spending fell 1% m/o/m.
3. PMI manufacturing index fell slightly, from 55 to 54.2.
4. PMI services index fell from 55.6 to 53.8.
5. Pending home sales fell 2.8% m/o/m, December was revised down from 1.6% to 0.8%.