No Surprises in Fundamentals.

Consumer Price Index (January 2015)

– CPI month/month -0.7%. Previous was -0.3%.
– CPI year/year   -0.2 %. Previous was +0.7%
– CPI core (less food & energy) month/month +0.2 %. Previous was +0.1%
– CPI core (less food & energy) year/year  +1.6 %. Previous was +1.6%.

No surprises here.  Core inflation is modest and lower energy prices made for a negative overall.

 
Durable Goods Orders (January 2015) 

– New Orders month/month  +2.8%. Previous was  -3.7%
– New Orders year/year  +5.4%. Previous was -0.1%
– Ex-transportation month/month  +0.3%. Previous was 0.9%
– Ex-transportation year/year  +4.5%. Previous was +3.6%

Headline stronger, ex-trans weaker.

 

Initial Jobless Claims (week ended 2/21/2015)

– New Claims seasonally adjusted  313,000. Previous was 282,000
– New Claims unadjusted were 280,000 an increase of 2,096 from previous
– 4-week Moving Average  294,500. Previous was 283,000

The Jobs market still is showing signs of health.

 

FHFA House Price Index  (December 2014)

– month/month change  +0.8%. Previous was +0.8%
– year/year change +5.4%. Previous was +5.2%.