Weekly Review 08-09-2019

S&P500 +1.79% (2,978.71); NASDAQ +1.76% (8,103.07); DJIA +1.49% (26,797.46)

August’s Markit Manufacturing PMI rose to 50.3 from July’s 49.9. Services PMI fell to 50.7 from July’s 50.9. Composite PMI fell to 50.7 from July’s 50.9.
August’s ISM Manufacturing PMI fell to 49.1 from July’s 51.2. ISM Non-Manufacturing PMI rose to 56.4 from July’s 53.7.
July’s Factory Orders jumped 1.4% from June’s +0.5%.
August’s Unemployment Rate remained unchanged from July’s 3.7%. Non-Farm Payrolls rose by 130K from July’s +159K. Participation Rate rose to 63.2% from July’s 63.0%.
August’s Average Hourly Earnings rose 0.4% from July’s +0.3%. Average Weekly Hours rose to 34.4 from July’s 34.3.
Q2 2019 Non-Farm Productivity rose by 2.3% y/y, the same increase as in Q1. Unit Labor Costs rose 2.6% y/y versus Q1’s +2.4% y/y.
Initial Jobless Claims for the week ending August 30^throse by 1K to 217K. Continuing Jobless Claims for the week ending August 23^rdfell by 39K to 1,662K