S&P500 -0.69% (2,126.41); NASDAQ -1.28% (5,190.10); DJIA +0.09% (18,161.19)
This week’s reports:
- Q3 2016 GDP Growth Annualized (prelim.) surged 2.9%, the biggest jump in two years, from Q2’s +1.4%. Growth picked up as a build in inventories and a jump in exports helped cushion softer household spending.
- September’s Chicago Fed National Activity Index rose to -0.14 from August’s -0.72.
- October’s Consumer Confidence fell to 98.6 from September’s 103.5.
- October’s Reuters/Michigan Consumer Sentiment Index fell to 87.2 from September’s 87.9.
- October’s Markit Manufacturing PMI (prelim.) rose to 53.2 from September’s 51.5. Markit Services PMI (prelim.) rose to 54.8 from September’s 52.3. Markit Manufacturing PMI (prelim.) rose to 54.9 from September’s 52.3.
- September’s Durable Goods Orders fell 0.1% from August’s +0.3%. Durable Goods Orders ex. Transportation rose 0.2% from September’s +0.1%.
- August’s S&P/Case-Shiller Home Price Indices rose 5.1% y/y versus July’s +5.0% y/y. FHFA Housing Price Index rose 0.7% from July’s +0.5%.
- September’s New Home Sales rose to an annual pace of 593K from August’s pace of 575K.
- Initial Jobless Claims for the week ending October 21th fell by 3K to 258K. Continuing Jobless Claims for the week ending October 14th fell by 14K to 2,039K.
- US stocks fell, wiping out previous gains, after the Federal Bureau of Investigation reopened a probe into Hillary Clinton’s use of an unauthorized e-mail server. The renewed investigation raised concerns regarding the outcome of the presidential elections, as the markets had to re-price for a new level of uncertainty.