Succinct Summation of Week’s Events for week ending 11.24.17 (plus Warren Buffett movie)

Once again below please find the usual Sunday night weekly summation with all three indexes once again reaching new record highs.  Not sure why Americans' concerns about the economy being at an 18 year low is in the negative column.  The bonus this weekend is from HBO.  There is a great HBO produced documentary on Warren Buffett which would ordinarily require a subscription to HBO but I found it on YouTube this weekend and supply the link.  Advise to get one of the many programs that can be used to download YouTube videos to your hard drive because HBO is likely to have this removed as soon as they discover it.  Hope everyone had a great holiday weekend.  

Succinct Summation of Week’s Events for week ending 11.24.17

November 24, 2017 5:30pm by Barry Ritholtz

Succinct Summations for the week ending November 24th, 2017

Positives:

1. Dow, S&P500, NASDAQ100 & Russell 2000 each hit new all-time highs.
2. Existing home sales rose 2% to a 5.48 million annualized rate, above the 5.37 million expected; prices rose 5.5% y/o/y to $247,000
3. MBA purchase applications rose a seasonally adjusted 5.3% w/o/w but y/o/y gain slowed to 4.1%
4. Initial jobless claims fell from 252k to 239k.
5. November Consumer Confidence Index from UoM was 98.5, up from initial print of 97.8.

Negatives:

1. Contrarian corner: Gallup notes “Americans’ concerns about the US economy are the lowest in 18 years
2. Durable good orders fell 1.2% m/o/m, below the 0.4% expected increase.
3. FOMC minutes show concern about whether inflation is 1.5% or 2% as the CRB index is at a 9 month high; oil hits a 2 ½ year high.
4. Core capital goods fell 0.5%, below the 0.5% expected increase.
5. PMI composite fell from 55.7 to 54.6, below the 55.4 expected.
6. Continuing jobless claims, delayed by a week, rose by 36k after falling by 36k in the week prior.

 Warren Buffett - HBO Documentary 2017 (HD) - YouTube