S&P500 +0.72% (3,397.16); NASDAQ +2.65% (11,311.80); DJIA 0.00% (27,930.33)
This week’s reports:
- August’s NY Empire State Manufacturing Index tumbled to 3.7 from July’s 17.2.
- August’s Philadelphia Fed Manufacturing Index fell to 17.2 from July’s 24.1.
- August’s Markit Manufacturing PMI (prelim.) rose to 53.6, a 19-month high, from July’s 50.9; the expectations were for an increase to 51.9. Services PMI (prelim.) jumped to 54.8, a 17-month high, from July’s 50, versus the expected increase to 51. Composite PMI (prelim.) rose to 54.7, an 18-month high, from July’s 50.3.
- August’s NAHB Housing Market Index rose to 78 from July’s 72, versus the expected increase to a reading of 73.
- July’s Housing Starts jumped 22.6% from June’s +17.5%. Building Permits surged 18.8% from June’s +3.5%.
- July’s Existing Home Sales climbed 24.7%, their biggest increase on record, from June’s +20.2%.
- Initial Jobless Claims for the week ending August 15th rose by 135K to 1.106M, versus the expected decrease to 925K. Continuing Jobless Claims for the week ending August 8th dropped by 636K to 14.844M, versus the expectations of a decrease to 15M continuing claims.