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Peter Boockvar

June 14, 2019 By Peter Boockvar

Succinct Summation of the Week’s Events – 6/14

Positives 1) The Administration pulled back from its everything tariff threat on Mexico. 2) Core retail sales in May beat the estimate by one tenth with a .5% m/o/m rise but it was actually better than that as April was revised up by 4 tenths. The y/o/y gain of 3.4% compares with the 5 yr average of 3.7% and helped by online retailing and sales at restaurants …

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June 7, 2019 By Peter Boockvar

Succinct Summation of the Week’s Events – 6/7

Positives 1) The May ISM services PMI surprised to the upside, rising 1.4 pts to 56.9 from April. The estimate was a slight drop to 55.4 and the print is about spot on with the year to date average of 57. The components though were more mixed. Of the 18 industries surveyed, 16 saw growth vs 15 in April, 16 in March and 18 in February. Of those seeing an increase in …

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May 31, 2019 By Peter Boockvar

Succinct Summation of the Week’s Events – 5/31

Positives 1) Initial jobless claims totaled 215k, about in line with the forecast of 214k and vs 212k last week (revised up by 1k). The 4 week average is now 217k vs 221k last week as a 230k print drops out. For perspective, the 217k average is about the same as the one year average of 218k. Continuing claims, delayed by a week, fell by 26k to just above the lowest …

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May 24, 2019 By Peter Boockvar

Succinct Summation of the Week’s Events – 5/24

Positives 1) New home sales in April totaled 673k, about in line with the estimate of 675k and March was revised up by 31k to 723k. Smoothing out this volatile data point puts the 3 month average at 688k vs the 6 month average of 648k and the 12 month average of 628k. Months’ supply rose to 5.9 from 5.6 and the median home price jumped by 8.8% y/o/y but that was …

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May 17, 2019 By Peter Boockvar

Succinct Summation of the Week’s Events – 5/17

Positives 1) Knowing that the only way the USMCA will pass Congress, the US will get rid of the steel and aluminum tariffs with Canada and Mexico. Also, the administration postponed for six months auto tariffs on the EU and Japan. 2) Initial jobless claims totaled 212k, 8k less than expected and down from 228k last week. The 4 week average is now 225k from 220k …

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May 10, 2019 By Peter Boockvar

Succinct Summation of the Week’s Events – 5/10

Positives 1) Headline CPI for April rose .3% m/o/m while the core rate was higher by .1%, both were one tenth less than expected. The y/o/y core rate though due to rounding was up 2.1% as expected and up from 2% in March. The headline rate was higher by 2% y/o/y vs 1.9% last month. Services inflation of 2.8% ex energy offset the decline in core goods pricing, …

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May 3, 2019 By Peter Boockvar

Succinct Summation of the Week’s Events – 5/3

Positives 1) April payrolls grew by 263k, well more than the estimate of 190k and there were upward revisions of a net 16k to the prior two months. The government added the most amount of jobs since August 2018. Looking at the private sector only saw a job gain of 236k vs the estimate of 188k. Average wage growth for non supervisory production workers held at 3.4% …

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April 26, 2019 By Peter Boockvar

Succinct Summation of the Week’s Events:

Positives 1) GDP in Q1 rose 3.2%, much better than the estimate of up 2.3%. The upside beat was helped by net trade (exports jumped while imports contracted sharply) and inventories which combined contributed almost 170 bps of the rise. Personal spending though, the biggest component was up just 1.2%, two tenths more than expected as an increase in spending on …

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April 18, 2019 By Peter Boockvar

Succinct Summation of the Week’s Events – 4/18

 Positives 1) March retail sales rebounded with a core gain of 1%, 6 tenths more than expected. Smoothing out the down December, up January, down February and up March, on a dollar basis we're just above (.2%) where sales totaled in November. 2) Initial jobless claims fell to just 192k, 13k less than expected and down from 197k last week. The 4 week average is now …

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April 12, 2019 By Peter Boockvar

Succinct Summation of the Week’s Events – 4/12

Positives 1) Initial jobless claims for the week ended April 6th broke below 200k at 196k. That was 14k below the forecast and down from 204k last week (revised from 202k). That’s the lowest print since I was born. This brings the 4 week average down to 207k from 214k and that is also the lowest since 1969. Continuing claims, delayed by a week, fell to the lowest …

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About Peter

Peter is the Chief Investment Officer at Bleakley Advisory Group and is a CNBC contributor. Each day The Boock Report provides summaries and commentary on the macro data and news that matter, with analysis of what it all means and how it fits together.

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Disclaimer - Peter Boockvar is an independent economist and market strategist. The Boock Report is independently produced by Peter Boockvar. Peter Boockvar is also the Chief Investment Officer of Bleakley Financial Group, LLC a Registered Investment Adviser. The Boock Report and Bleakley Financial Group, LLC are separate entities. Content contained in The Boock Report newsletters should not be construed as investment advice offered by Bleakley Financial Group, LLC or Peter Boockvar. This market commentary is for informational purposes only and is not meant to constitute a recommendation of any particular investment, security, portfolio of securities, transaction or investment strategy. The views expressed in this commentary should not be taken as advice to buy, sell or hold any security. To the extent any of the content published as part of this commentary may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person. No chart, graph, or other figure provided should be used to determine which securities to buy or sell. Consult your advisor about what is best for you.

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