Week in Review
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Started by TimNew - July 24, 2020, 10:55 a.m.

Somewhat lite week for data,   but enough to keep it interestng.  Big News Next Week.

Very dissapointing Jobless Claims this week with an increase.  Small,   but in the absolute wrong direction.   I think that has had/is having an impact on equities the last 2 days. Tensions with China don't help.

Redbook remains soft.

Housing prices took a small hit in May according to FHFA.

PMI Flash returned to neutral territory while Kansas City Fed shows moderate to good growth.

Leading Indicators continue a strong climb,  influenced by Housing, among other things.

Speaking of Housing,   New and Existing continue to show real strength.  I've always felt this is one of the best barometers for the immediate and near term economy with implications for long term.  Not only is it responsible for massive job creation for many pay grades, it reflects a long term optimism in the people making a commitment on what, for most, is the largest investment in their lives.

Edit Note*  It bears mention that New Homes Sales have hit a 13 year high.

I'll go with a cautious C this lite week,  heavily weighted by the Jobless Claims.   I hope its an anomaly. Suck Factor remains at a solid 8.



By pj - July 24, 2020, 4:54 p.m.
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By metmike - July 24, 2020, 6:08 p.m.
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Thanks very much Tim!