Week in Review
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Started by TimNew - March 5, 2021, 10:34 a.m.

PMI Mfg M/MFeb-2159.2058.60C
PMI Svc M/MFeb-2158.3059.80C+
ISM Mfg M/MFeb-2158.7060.80B-
ISM Svc M/MFeb-2158.7055.30C
Factory Orders M/MJan-211.102.60B-
Construction Spending M/MJan-211.001.70C+
RedBook W/W2/27/20212.904.60C+
Jobless Claims W/W2/27/2021730K745KC-
Employment Situation M/MFeb-2149K379KB

A light week quantity wise,   but good quality.

Jobless Claims had a small jump to 745. Still far too high,  but I am being conditioned to accept anything below 800K as sorta OK.   Still believe it needs to be roughly half of that.

RedBook showed a nice gain for the week.   Retail remains moderately to strongly positive,  going against the grain of the general percieved mood.

Construction Spending showed a healthy bump in line with the long running Housing "near boom".

Factory Orders showed a big jump, in line with the MFG #'s we've been seeing for the last several and backed up by both PMI amd ISM, which reached the stratospheric (IMO) 60+.   ISM and PMI also showed strength in Services. Granted,  ISM retracted significantly "down" to 55.3,  but anything above 55 is very strong.  Let's see where it is next month.

The obvious headline this week was the pleasantly surprising Employment Situation. In my wildest dreams,  I would not have seen 379K.  Behind the headline,  we added 465 in the private sector showing a continued significant drop in public sector jobs.  Icing on the cake, MFG added 21K.  Nothing I saw in the report was newsworthy beyond that,  but that's enough to make me smile.

I'll go with a confortable C+ this week.  Not a lot of data and the Employment may be (probably is) a one off.   But we'll see.   I will go out on a limb and drop the suck factor from 8 to 7 with hopes I am not too wrong.

By metmike - March 11, 2021, 12:15 a.m.
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Almost let your report slip by without thanking youTim!

Better late than never (-: