Succinct Summation of Week’s Events 12.04.20
Succinct Summations for the week ending December 4th, 2020
1. November saw the strongest market gains in 30 years.
2. Unemployment rate fell from 6.9% to 6.7% m/o/m.
3. Home mortgage apps rose 9.0% m/o/m, above expectations.
4. Jobless claims fell 75k w/o/w from 787k to 712k.
5. PMI Composite came in at 58.6 for November, above expectations.
6. Construction spending rose 1.3% m/o/m, above expectations.
7. Corporate layoffs came in at 64,797 for November, below previous 80,666.
1. Covid 19 spike reached record daily infections, hospitalizations, with more than 3,100 deaths in a single day,
2. Nonfarm payrolls increased 245k m/o/m, far below expectations.
3. Chicago PMI came in at 58.2 for November, below previous 61.1.
4. Pending home sales fell 1.1% m/o/m, below expectations.
5. ISM Mfg Index came in at 57.5 for November, below previous 59.3.
6. ISM Services index came in at 55.9 for November, below previous 56.6.
7. International trade deficit came in at $-63.1B in October, below the previous $-63.9B.
S&P500 was up 13.12% in the month of November