Succinct Summation of Week’s Events 5.25.18 (and nothing else)

Sorry, my landlord was unable to install my A/C window units before he departed for northern Michigan for the holiday weekend so I've been sweltering in 90 degree heat in my house all weekend ... and tonight.  (He has phoned me tonight from his northern vacation home that he'll be back tomorrow and will do the install before dinner.)  I am melting here so I just don't have the energy to do anything except supply the usual succinct weekly summation, which I had prepared on Friday anyway.  Hope everyone had a much better weekend than did I.


Succinct Summation of Week’s Events 5.25.18

May 25, 2018 4:00pm by Barry Ritholtz

Succinct Summations for the week ending May 25th, 2018

Positives:

1. Following a series of diplomatic blunders, markets shook off lots of bad geopolitical news to close higher for the week;
2. Core durable goods orders rose 1% m/o/m, above the expected 0.7%.
3. PMI Composite rose to 55.7, up .9 from previous 54.8.
4. Chicago Fed National Activity index rose to 0.34, beating the expected 0.25.
5. Bloomberg consumer comfort index rose to 55.2 w/o/w, up 0.6 from previous 54.6.

Negatives:

1. MBA mortgage applications fell 2%. Fourth weekly decline in a row.
2. New home sales came in at 662k, missing expectations and down from previous 694k.
3. Existing home sales fell to an annualized rate of 5.46 million, missing expectations.
4. Jobless claims rose to 234k w/o/w, up 11k from previous week’s revised 223k.
5. Same store sales rose 3.2% w/o/w, down from previous 4.9% rise.

Spread the wealth.