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S&P500  +1.37%(2,476.55); NASDAQ  +2.71% (6,435.33); DJIA  +0.80% (21,987.56)


This week’s reports:

  • Q2’s 2017 GDP Annualized (prelim.) was +3% versus Q1’s +2.6%.
  • August’s Unemployment Rate rose to 4.4% from July’s 4.3% after Non-Farm Payrolls rose 156K from July’s upwardly revised 209K. Labor Force Participation remained unchanged from July’s 62.9%.
  • August’s Average Hourly Earnings rose 0.25%, the same increase as in July. Average Weekly Hours fell to 34.4 from July’s 34.5.  
  • August’s Markit Manufacturing PMI rose to 52.8 from July’s 52.5.
  • August’s ISM Manufacturing rose to 58.8, its highest since 2011, from July’s 56.3.
  • July’s Wholesale Inventories (prelim.) fell by 0.4% from June’s downwardly revised +0.7%.
  • July’s Personal Income rose 0.3% from June’s upwardly revised +0.1%. Personal Spending rose 0.4% from June’s 0%.
  • August’s Michigan Consumer Sentiment Index fell to 96.8 from July’s 93.4.
  • June’s S&P/Case-Shiller Home Price Indices rose 5.7% y/y, the same increase as in May.
  • July’s Durable Goods Orders fell by 6.8% from June’s +6.4%. Durable Goods Orders ex Transportation rose by 0.5% from June’s +0.1%.
  • July’s Pending Home Sales fell 0.8% from June’s +1.3%.
  • Initial Jobless Claims for the week ending August 25th fell by 1K to 236K. Continuing Jobless Claims for the week ending August 18th fell by 12K to 1,942K.


  • US stocks rose as reports showing a gain in consumer sentiment and an increase in manufacturing offset a mediocre August employment report.
  • The S&P 500 ended August with a gain of less than 0.1% , the smallest increase since March though still the ninth advance in 10 months.




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