Succinct Summations for the week ending November 13th, 2020
1. Pfizer and its partner BioNTech vaccine proves 90% effective at blocking Covid infection, providing hope for a return to normal in 2021. 2. Pennsylvania & Arizona called for President-elect Biden; final electoral college results 306-232. 3. Markets continue their move higher, rallying for 2nd week. 4. Jobless claims fell 48k w/o/w from 757k to 709k, below expectations. 5. PPI rose 0.3% m/o/m, above expectations. 6. Atlanta Fed Business Inflation Survey rose 1.9% y/o/y, above previous increase of 1.8%.
1. Covid-19 reaches record high levels around the country as second wave reaches 150,000 daily infections in USA. 2. Home mortgage apps fell 3.0% w/o/w, below the previous decrease of 1.0%. 3. CPI had no change in October after the previous increase of 0.2%. 4. Job openings rose to 6.436M in September, below expectations. 5. NFIB Small Business Optimism Index came in at 104.0, below expectations. 6. Consumer sentiment is at 77 for November, below expectations.