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%.