Succinct Summation of Week’s Events 11.29.19

On Friday, the reports were that Black Friday was a bust and the market sank. But over the weekend new data has surfaced that has said the opposite -- Black Friday was one of the biggest ever!  My hunch is that tomorrow is going to be a very good day for the Dow and S&P.  Below is the weekly summation and it's curious that there's no mention of Black Friday and its impact on the indexes, even though the dour outlook was triggered by the fact that there weren't that many shoppers in line outside the stores Friday morning.  It turns out much of the shopping was done online.  Anyway, tomorrow should be exciting.  Hope everyone had a great holiday weekend. 



Succinct Summation of Week’s Events 11.29.19

November 29, 2019 3:00pm by Barry Ritholtz

Succinct Summations for the week ending November 29th, 2019

Positives:

1.  Markets rally, continue to power higher
2. Jobless claims fell 15k w/o/w, from 228k to 213k.
3. International trade deficit narrowed to $-66.53B in Oct., beating the expected $-70.8B.
4. Durable goods orders rose 0.6% m/o/m, above the previous decrease of 0.7%.
5. Retail inventories rose 0.3% w/o/w, above the expected increase of 0.2%.
6. Wholesale inventories rose 0.2% w/o/w, above the previous decrease of 0.3%.
7. Same store sales rose 4.4% w/o/w, above the previous increase of 4.1%.

Negatives:

1. Still no deal on China Trade / Tariff war
2. New home sales rose to 733k in October, below the previous revised 738k.
3. Home mortgage apps fell 1.0% w/o/w, below the previous increase of 7.0%.
4. Pending home sales index fell 1.7% m/o/m, below the previous increase of 1.5%.
5. Personal income remains unchanged m/o/m, below the expected 0.3% increase
6. Consumer confidence came in at 125.5 for November, below the expected 126.9.