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More Inconclusive Economic Data But Market Moves On Tenuous Brexit Deal

More Inconclusive Economic Data But Market Moves On Tenuous Brexit Deal
Image by EU2016 SK

A slew of economic data was released this morning and was for the most part inconclusive, especially in light of the strike at General Motors. However, markets did move higher, based on news of a tenuous Brexit deal between the UK and EU.

However, later in the British day, traders faded the news as reports trickled out of Britain that the deal is on thin ice in the British Parliament.

Initial jobless claims for Oct 11 (4 week average) came in at 214.75k vs 213.75 consensus estimate.

Housing starts for Sept were down 9.4% vs estimate of -8.6%.

Building permits in Sept were down 2.7% vs estimate of -26%.

Building permits MoM for Sept came in at 1.387M vs 1.385M consensus.

Housing starts MoM for Sept were 1.256M vs estimate of 1.320M.

Industrial production was down 0.4% MoM in Sept vs estimate of -0.1%.

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