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S&P500  -2.04%(2,691.25); NASDAQ  -1.08% (7,257.87); DJIA  -3.05% (24,538.06)

This week’s reports:

  • Q4 2017 GDP Growth Annualized (second est.) was updated to 2.5% from the previous estimate of 2.6%, due to slight downward revision to private inventory investment.
  • January’s Personal Income rose 0.4%, the same as in December. Personal spending rose 0.2% from December’s +0.4%.
  • February’s Michigan Consumer Sentiment Index rose to 99.7 from January’s 95.7.
  • December’s S&P/Case-Shiller Home Price Indices rose 6.3% y/y versus November’s +6.4% y/y.
  • January’s New Home Sales fell 7.8% from December’s -7.6%. Pending Home Sales fell 4.7% from December’s +0.5%.
  • January’s Chicago Fed National Activity Index (CFNAI) fell to 0.12 from December’s 0.14.
  • February’s Dallas Fed Manufacturing Index rose to 37.2 from January’s 33.4.
  • January’s Durable Goods Orders fell 3.7% from December’s +2.6%. Durable Goods Orders ex. Transportation fell 0.3% from December’s +0.7%.
  • February’s Richmond Fed Manufacturing Index rose to 28 from January’s 14.
  • February’s Chicago PMI fell to 61.9 from January’s 65.7.
  • February’s Markit Manufacturing PMI fell to 55.3 from January’s 55.9.
  • February’s ISM Manufacturing rose to 60.8 from January’s 59.1.
  • Initial Jobless Claims for the week ending February 23rd fell by 10K to 220K. Continuing Jobless Claims for the week ending February 16th rose by 57K to 1,931K.


  • US stocks rose at the end of a volatile week, paring some of their previous losses, helped by a sharp rise in health care shares. Earlier in the week, US stocks fell, leading global shares lower, as investors across the globe continued to signal anxiety about President Trump’s pledge to impose tariffs on steel and aluminum imports and the prospect that it could trigger a global trade war.



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