Weekly Market Insights
By Samir Al Khoury,
United States of America
? The Consumer Confidence Index recorded 100.4 points, which exceeded expectations (100.0) and the previous reading (101.3).
? The core durable goods orders index declined, recording a contraction of 0.1%, which is lower than expectations (0.2%) and the previous reading (0.4%).
? The new home sales index declined, recording 619K, which is lower than expectations (636K) and the previous reading (698K).
? The initial jobless claims declined, recording 233K, which is lower than expectations (236K) and the previous reading (239K).
? US crude oil inventories rose by 3.591 million barrels, which exceeded expectations (-2.600M) and the previous reading (-2.547M).
? The GDP recorded a quarterly growth of 1.4%, which exceeded expectations (1.3%) and the previous reading (3.4%).
? The core personal consumption expenditures price index recorded on an annual basis 2.6%, which is in line with expectations but lower than the previous reading (2.8%).
? The pending home sales index recorded a contraction of 2.1%, which is lower than expectations (0.6%) but higher than the previous reading (-7.7%).
? The Michigan Consumer Confidence Index recorded 68.2 points, which exceeded expectations (65.6) but lower than the previous reading (69.1).
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