Week in Review
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Started by TimNew - May 7, 2021, 9:10 a.m.

PMI Mfg  M/MApr-2159.1060.50C+
PMI Svc  M/MApr-2160.4064.70B-
ISM Mfg  M/MApr-2164.7060.70C
ISM Svc  M/MApr-2163.7062.70C
Factory Orders  M/MMar-21-0.801.10C+
Construction Spending M/MMar-21-0.800.20C+
Redbook W/W5/1/202113.9014.20C+
Jobless Claims W/W5/1/2021553K498KC+
Employment Situation M/MApr-21916K226KC

Interesting Week.

PMI and ISM continue to show strength tho ISM MFG "dropped" from 64.7->60.4.  Remember,  50 is neutral,  55+ is considered strong, 60+ is very rare.

Construction Spending went back into positive territory along with Factory Orders.

RedBook remains in unseen high territoy.

Jobless Claims are actually getting into "normal" territory, certainly much closer than we've been for the last year.  Another -100k will put us in the high normal range.

The headline this week is obviously the Employment Situation.  226k is a respectable number, but when the expectaction is nearly a million,  this is disappointing.  Prior revised down to 770k. Mfg had a net loss of -18k. Not at all what was expected and the DOW futures dropped into negative territory tho NASDAQ and S&P remain nicely positive.  Really wondering what next month will bring.

In spite of that,  I'll go with a C+ on the week, due largely to Jobless Claims and other good numbers.  Suck factor remains at 5.

By metmike - May 7, 2021, 1:44 p.m.
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Thanks very much Tim!

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