|PMI Mfg M/M||Jan-21||57.10||59.20||C+|
|PMI Composite M/M||Jan-21||55.30||58.70||B-|
|ISM Mfg M/M||Jan-21||60.70||58.70||C|
|ISM Svc M/M||Jan-21||57.20||58.70||C+|
|Factory Orders M/M||Dec-20||1.00||1.10||C+|
|Construction Spending M/M||Dec-20||0.90||1.00||C+|
|Jobless Claims W/W||1/30/2021||847K||779K||C+|
|Employment Situation M/M||Jan-21||-140,000||49,000||C+|
Somewhat lite in data this week, but what there is, is encouraging.
Employment situation was anemic, but at least showed a gain. We did lose 10K Mfg jobs and the participation rate dropped a tic. Hourly earnings were up, possibly from a drop in low skilled workers..
Jobless claims dropped back below 800K. Still far too high at roughly twice what I consider to be acceptable, but moving in the right direction.
RedBook continues to show respectable numbers.
Construction Spending continues growth at a nice pace, a reflection of Housing Numbers.
And Factory Orders showing srength as well.
ISM and PMI came in very strong for both MFG and Service Yes, ISM MFG dropped from the stratosphere 60.7 to an overheated 58.7, but these are still recovery level numbers. IMO, anything above 55 is very positive.
An obvious C+ this week and I'll lower the suck factor to 7.5.
Earnings and Guidance came in very nice over the last few weeks and if we see a drop in Covid numbers, it should be a bullish time in almost every market.