Good & Bad For The Week

Byaaronmat-admin

Good:

  • The major indices continue acting well
  • The Fed didn’t raise rates
  • The Philly Fed Index rose to 15.2, beating estimates for 8.0.
  • The National Association of Home Builders (NAHB) housing market index rose to 59, beating estimates for 56. It was the highest reading since last September as buyers rush to lock in low mortgage rates

Bad:

  • The Fed didn’t raise rates 
  • Empire State Manufacturing index fell to -1.98, missing estimates for +5.90 and hit the lowest level in two years
  • Industrial production unexpectedly fell -0.2% in May and missed estimates for a gain of 0.2%
  • May housing starts fell by -11.1% to 1.036M, missing expectations for 1.090M
  • The weekly MBA Mortgage Index fell to -5.5% to follow last week’s +8.4% increase