Weekly Review 16-8-2020

S&P500 +0.64% (3,372.85); NASDAQ +0.08% (11,019.30); DJIA +1.81% (27,931.02)

This week’s reports:

August’s Michigan Consumer Sentiment Index (prelim.) rose to 72.8 from July’s 72.5. It was expected to decline to 72.
July’s CPI rose 1% y/y versus June’s +0.6% y/y, more than the expected increase of 0.8% y/y. Month-on-month, inflation was unchanged from June’s +0.6%. CPI ex Food & Energy (Core) rose 1.6% y/y versus June’s +1.2% y/y and versus the expectations of 1.1% increase. Month-on-month core inflation was 0.6% versus June’s +0.2%.
July’s Retail Sales rose 1.2% from June’s +8.4%, less than the expected 1.9% increase. Retail Sales ex Autos rose 1.9% from June’s +8.3%, more than the expected 1.3% increase.
July’s NFIB Small Business Optimism Index fell to 98.8 from June’s 100.6.
July’s Producer Price Index fell 0.4% y/y versus June’s -0.8% y/y. Core PPI rose 0.3% y/y versus June’s +0.1% y/y.
July’s Industrial Production rose 3% from June’s +5.7%. Capacity Utilization jumped to 70.6% from June’s 68.5%.
Q2 2020 Non-Farm Productivity (prelim.) surged 7.3% from Q1’s -0.3%. Q2 2020 Unit Labor Costs (prelim.) jumped 12.2% from Q1’s +9.8%.
June’s Business Inventories fell 1.1% from May’s -2.3%.
Initial Jobless Claims for the week ending August 8^th fell by 228K to 963K, versus the expected decrease to 1.120M. Continuing Jobless Claims for the week ending August 1^st dropped by 604K to 15.486M, versus the expectations of 15.898M continuing claims.