Weekly Review 21-6-2020

S&P500 +1.86% (3,097.74); NASDAQ +3.73% (9,946.12); DJIA +1.04% (25,871.46)

This week’s reports:

June’s NY Empire State Manufacturing Index jumped to -0.2 from May’s -48.5.
May’s Industrial Production rose 1.4%, less than the expected +2.9%, from April’s -12.5%. Production increased as many factories resumed at least partial operations. Capacity Utilization rose to 64.8% from April’s 64%.
April’s Business Inventories fell 1.3% from March’s -0.3%.
June’s Philadelphia Fed Manufacturing Index surged to +27.5, much higher than the expected reading of -23, from May’s -43.1.
May’s Retail Sales jumped 17.7% from April’s -14.7% versus the expectations of an 8% increase. Retail Sales ex Autos rose 12.4% from April’s -15.2%.
June’s NAHB Housing Market Index rose to 58 from May’s reading of 37. The index was led up by a surge in builder confidence in the market for newly-built single-family homes.
May’s Housing Starts rose 4.3% from April’s -26.4%. Building Permits jumped 14.4% from April’s -21.4%.
Initial Jobless Claims for the week ending June 13^th fell by 58K to 1.508M, their 11^th straight weekly decline. Continuing Jobless Claims for the week ending June 6^th fell by 62K to 20.544M. Consensus expectations were for 19.8 million continuing claims.