Succinct Summations for the week ending June 5th, 2020
1. Nasdaq reach all time highs, and the S&P500 turned positive for the year. 2. Non-farm payrolls rose 2.509M m/o/m, above expected 7.73m loss. 3. Unemployment rate is at 13.3%, below the expected 19.8%. 4. Home mortgage apps rose 5.0% w/o/w after the previous 9% increase. 5. PMI Services Index came in at 37.5 for May, above the expected 36.9. 6. ISM Non-Mfg Index came in at 45.4 for May, above the expected 44.0.
1. US Police widely engaged in unlawful, unconstitutional actions, violently disrupting numerous peaceful protests around the country at the behest of POTUS. Sad! 2. ADP reported -2.76 million private sector jobs in May 3. Jobless claims fell from 2.126M to 1.877M w/o/w, above expectations 4. Home mortgage refinance apps fell 9.0% w/o/w 5. Construction spending fell 2.9% m/o/m 6. Factory orders fell 13.0% m/o/m 7. Same store sales fell 7.2% w/o/w