Succinct Summations for the week ending November 15th, 2019
1. Markets make new all time highs — the most bullish thing they can do!
2. CPI rose 0.4% m/o/m, above the expected increase of 0.3
3. Home refinance apps rose 13.0% w/o/w, above the previous increase of 2.0%.
4. Home mortgage apps rose 5.0% w/o/w, above the previous decrease of 3.0%.
5. Retail sales rose 0.3% m/o/m, above the expected increase of 0.2%.
6. PPI-FD rose 0.4% m/o/m, above the expected increase of 0.3%.
1. Trade uncertainty continues; damning testimony weakens POTUS further.
2. Industrial production fell 0.8% m/o/m, below the expected decrease of 0.4%.
3. Jobless claims rose by 14k w/o/w from 211k to 225k.
4. Business inventories fell 0.2%, below the expected increase of 0.1%.
5. Same store sales rose 5.0% w/o/w, decelerating from the previous increase of 5.5%.
6. Import prices fell 0.5% m/o/m and export prices fell 0.1% m/o/m, both below expectations.
It’s known for being the home of Mount Rushmore – and not much else. But thanks to its relish for deregulation, the state is fast becoming the most profitable place for the mega-wealthy to park their billions.
One of the holy grails in the newco world is to build out a digital platform that successfully serves the needs of a broad number of adjacent verticals, and become the definitive platform in its space. We know the now-canonical early examples of this: Amazon, eBay, Craigslist. And we also know that once that holy grail of a new digital platform is attained, competitors quickly come a’ callin’.
Succinct Summations for the week ending October 25th, 2019
1. Markets within a % of all time highs.
2. New home sales came in at an annual rate of 701k for Sept.
3. PMI Composite rose from 51.0 to 51.2 m/o/m.
4. Same store sales rose 4.3% w/o/w, above the previous increase of 4.1%.
5. Jobless claims fell 6k w/o/w, from 218k to 212k.
6. Consumer sentiment finished at 95.5 for October, meeting expectations.
1. Impeachment strengthening; Ambassadors’ testimony very damning;
2. Trade war resolution on periphery, not core issues;
3. Existing home sales fell 2.2% m/o/m, below prior 1.5%.
4. Durable goods orders fell 1.1% m/o/m, below expected 0.7%.
5. MBA mortgage apps fell 4.0% w/o/w; MBA refinance apps fell 17.0%;
6. FHFA House Price Index rose 0.2% m/o/m, below expected increase of 0.4%.
Succinct Summations for the week ending October 18th, 2019
1. Housing market index rose 3 points in October from 68 to 71.
2. Jobless claims rose from 210k to 214k w/o/w, remaining at very low levels.
3. Home refinance apps rose for a second straight week at 4.0% w/o/w.
4. Philly Fed Business Outlook Survey came in at 5.6 this month, meeting expectations.
5. Empire State Mfg Survey came in at 4.0 for October, above the expected 0.8.
1. Retail sales fell 0.3% m/o/m, below the expected increase of 0.3%.
2. Index of leading economic indicators fell 0.1%, below the expected increase of 0.2%.
3. Same store sales rose 4.1% w/o/w, decelerating from the previous increase of 5.7%.
4. Home Mortgage Apps fell 4.0% w/o/w, below the previous decrease of 1.0%.
5. Industrial production fell 0.4% w/o/w, below the expected decrease of 0.2%.
If you are interested in the restaurant industry and what it’s like to develop a restaurant concept and expand it from one restaurant to many across the country. They have 3,000 employees and restaurants of a variety of different names, probably best known is Ocean Prime. Their portfolio of restaurants generates over $300 million a year in revenue in 60 different locations across 15 different restaurant themes.
Mitchell, a Culinary Institute of America graduate, just celebrated his 25th running the firm. The genesis of his Mitchell’s philosophy comes from his experience of trying to order a grilled cheese sandwich and a chocolate milk shake for his son in a restaurant in a very Jack Nicholson moment (Five Easy Pieces). He quickly came to the realization that being able to say yes to customers was the very premise of a good restaurant — and often for many a missed opportunity. Mitchell also reveals the secret of spotting talent and hiring great people. His approach is to hire entry-level employees, and then teach […]
Succinct Summations for the week ending October 11th 2019
1. Partial agreement has brokered a truce in the trade war; “Skinny” Trade Deal appears to be within reach.
2. Jobless claims fell 10k w/o/w from 220k to 210k.
3. Import prices rose 0.2% m/o/m, above the expected decrease of 0.1%.
4. Wholesale trade rose 0.2% m/o/m, in line with the previous 0.2% increase.
5. Export prices fell 0.2% m/o/m after previous decrease of 0.6%.
6. Consumer credit rose $17.9B in August, above the expected increase of $17.0B.
1. Two Rudy Giuliani associates are arrested on campaign finance scheme; Ukraine scandal is broader and deeper than previously understood, with more administrative officials and countries involved than previously believed;
2. Home mortgage apps fell 1.0% w/o/w, below the previous 1.0% increase.
3. Job openings came in at 7.051M in August, down from previous 7.174M.
4. Same store sales rose 5.7% w/o/w, decelerating from the previous increase of 5.8%.
5. TD Ameritrade Investor Movement Index fell 11 points in September from 4.62 to 4.51.
6. PPI-FD fell 0.3% m/o/m, below the expected increase of 0.1%.
Succinct Summations for the week ending October 4th, 2019
1. Public markets work! Absurdly overvalued unicorns run by self-dealing narcissists cannot seem to find enough suckers to take their crappy shares off their hands, as WeWorks cancels IPO.
2. Unemployment rate fell from 3.7% to 3.5% in September.
3. Non-farm payrolls rose 136k m/o/m, meeting the range of expectations.
4. MBA mortgage applications rose 1.0% w/o/w, above the previous decrease of 3.0%.
5. PMI Manufacturing index came in at 51.1 for September, above the previous 50.3.
6. Layoff announcements fell from 53,480 to 41,557 m/o/m, the lowest level since April.
1. “Stupid Watergate” got much worse, now involving China, VP Pence, and Sec of State Pompeo;
2. As crappy Unicorns implode, the collateral damage threatens legitimate IPO market.
3. Factory orders fell 0.1% m/o/m, below the previous increase of 1.4%.
4. ISM Mfg Index came in at 47.8 for September, below the expected 50.0.
5. Jobless claims rose 4k w/o/w from 215k to 219k.
6. Construction spending rose 0.1% w/o/w, below the expected increase of 0.3%.
Succinct Summations for the week ending September 27th, 2019
- Impeachment is finally here, and markets are n0w closer to resolving that uncertainty . . .
- GDP rose 2.0% according to the third estimate for Q2.
- New home sales rose to an annual rate of 713k in August, above previous 666k.
- Pending home sales rose 1.6% m/o/m, above the expected increase of 0.6%.
- New orders for durable goods rose 0.2% m/o/m, above the previous decrease of 1.2%.
- Wholesale inventories rose 0.4% w/o/w, above the previous increase of 0.2%.
- FHFA House Price Index rose 0.4% m/o/m, above the expected increase of 0.2%.
- PMI Composite came in at 51.0 for September, within the range of expectations.
- IPOs continue to struggle, as WeWork gets postponed and Peleton comes out below IPO price.
- Same store sales rose 5.2% w/o/w, decelerating from the previous increase of 5.4%.
- Corporate profits rose 0.3%, below the previous increase of 1.7%.
- Retail inventories remain unchanged after the previous increase of 0.8%.
- Consumer spending rose 0.1% in August, below the previous increase of 0.5%.
- Consumer confidence fell from 135.1 to 125.1 m/o/m, below the expected 133.0.
- Jobless claims rose 3k w/o/w from 210k to 213k.
- Home mortgage app fell 3.0% w/o/w […]