Succinct Summations for the week ending September 25th, 2020
1. Markets Avoid deep selloff, recover for the week; 2. New home sales came in at an annual rate of 1.011M in August, above expectations. 3. Home mortgage rose 3.0% w/o/w, above the previous decrease. 4. Home refinance apps rose 9.0% w/o/w, above the previous decrease. 5. Existing home sales came in at an annual rate of 6.000M in August.
1. POTUS tees up a post-election civil war. 2. Jobless claims rose 4k w/o/w from 866k to 870k. 3. Chicago Fed National Activity index came in at 0.79 for August, below expectations. 4. PMI Composite is at 54.4 in September. 5. New orders for durable goods rose 0.4% m/o/m, below expectations.