Weekly Review 17-5-2020

S&P500 -2.26% (2,863.70); NASDAQ -1.17% (9,014.56); DJIA -2.65% (23,685.42)

This week’s reports:

May’s Michigan Consumer Sentiment Index (prelim.) rose to 73.7 from April’s 71.8. Confidence inched upward as the CARES relief checks improved consumers’ finances and widespread price discounting boosted their buying attitudes.
April’s CPI rose 0.3% y/y (fell 0.8% m/m) versus March’s 1.5% y/y (-0.4% m/m). CPI ex Food & Energy (Core) rose 1.4% y/y (fell 0.4% m/m) versus March’s 2.1% y/y (-0.1% m/m).
April’s Retail Sales fell 16.4% from March’s -8.3%. April’s decline in sales was their steepest on record and bigger than the expected -12% m/m. Retail Sales ex Autos fell 17.2% from March’s -4%.
May’s Empire State Manufacturing Index rose to -48.5 from April’s -78.2.
April’s Industrial Production fell 11.2% from March’s -4.5%. Capacity Utilization fell to 64.9% from March’s 73.2%.
April’s NFIB Small Business Optimism Index fell to 90.9 from March’s 96.4.
March’s Business Inventories fell 0.2% from February’s -0.5%.
Initial Jobless Claims for the week ending May 9^th fell by 195K to 2,981K. That brings the total number of first-time claimants to 36.5 million since mid-March. Continuing Jobless Claims for the week ending May 1^st rose by 456K to 22.833M.