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 Succinct Summation of Week’s Events 8.21.20

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 Succinct Summation of Week’s Events 8.21.20

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Succinct Summations for the week ending August 21st, 2020

Positives:

1. Markets continue to add to gains as global economic recovery slowly continues.
2. New Covid-19 infections seem to be slowing;
3. Existing home sales rose from 4.700M to 5.860M m/o/m, above expectations;
4. E-Commerce sales rose 31.8% q/o/q,
5. PMI Composite Flash is at 54.7 for August, above expectations
6. Housing market index stands at 78 for August, above expectations.

Negatives:

1. We are only halfway through the political convention period, and 75 days out until the election;
2. American’s bungled pandemic response continues: 175,000 deaths, >5 million infections;
3. Index of leading economic indicators rose 1.4% m/o/m
4. Jobless claims rose from 971k to 1.106M w/o/w, above expectations.
5. Home refinance mortgage apps fell 5.1% w/o/w
6. Index of leading economic indicators rose 1.4% m/o/m

Thanks, Matt.

 

 Succinct Summation of Week’s Events 8.21.20 2

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