Weekly Review 24-5-2020

S&P500 +3.20% (2,955.45); NASDAQ +3.44% (9,324.59); DJIA +3.29% (24,465.16)

This week’s reports:

May’s Markit Manufacturing PMI (prelim.) rose to 39.8 from April’s 36.1. Services PMI (prelim.) rose to 36.9 from April’s 26.7. Composite PMI (prelim.) rose to 36.4 from April’s 27.0.
May’s Philadelphia Fed Manufacturing Index rose to -43.1 from April’s -56.6.
May’s NAHB Housing Market Index rose to 37 from April’s reading of 30.
April’s Building Permits fell 20.8% from March’s -5.7%. Housing Starts fell 30.2% from March’s -18.6%.
April’s Existing Home Sales fell 17.8%, their largest month-over-month drop since July 2010, from March’s -8.5%.
Initial Jobless Claims for the week ending May 16^th fell by 249K to 2.438M. Continuing Jobless Claims for the week ending May 9^th rose by 2.525M to 25.073M.