Week in Review
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Started by TimNew - Aug. 1, 2020, 6:34 a.m.

Somewhat mixed week.

The obvious headline is the GDP. I doubt many were surprised that it was strongly negative given the ecodevastation of Q2:20.   The good news is the upward revisions starting in June.

Jobless Claims remain at about 4 times the maximum acceptable. This is the biggest concern I have in the overall.

Consumer Confidence had a slight slip as did State Street Investors.  Could be ominous, certainly a "watch and wait".

Personal Income continued to shrink but at a much slower rate while Consumer Spending continues to climb.

Pending Homes Sales remains strong as Housing in general remains a bright spot in this economy.

MFG also remains pretty strong.  Will be interesting to watch Dallas Fed as their reading is strongly tied to Energies. Durable Goods remains strongly positive.

I have mixed feelings based on this weeks readings.  Sentiment is important and is understandably taking a hit in view of  the media beating we get daily. Personal Income will likely show growth in the near term and I expect another outsized positive Employment report next week. Underlying Funnies remain good to strong.  I'll go with a cautious C this week.  Suck factor remains at 8.

*Note: Taking a much needed 2 week vacation starting next week.  Won't make any promises other than I'll see what I can do with the Weekly Review

By metmike - Aug. 1, 2020, 7:27 p.m.
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Thanks much Tim!

I’m in Detroit visiting dad for another 8 days.

By TimNew - Aug. 2, 2020, 6:34 a.m.
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Will be driving through Detroit on Friday.  :-)

By metmike - Aug. 2, 2020, 8:21 p.m.
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Where are you going tim?

I’m guessing you’ll be on 75 headed north.

By TimNew - Aug. 3, 2020, 7:22 a.m.
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Yeap.  Visiting wife's family in Pt Huron.   Then on to Buffalo for a little time with mine.