Succinct Summation of Weeks Events (February 19 2013)

Positive:

1) Germany’s business confidence climbed to a 10 month high of 107.4 in February
2) St. Louis Fed President said The Federal Reserve’s “very aggressive” easy money policy is going to stay that way for a “long time.”
3) Via bespoke, the 2 day selloff has 8 of the 10 S&P sectors back to neutral from overbought conditions. This is healthy for the markets.
4) Shares of HP up 14% as their quarter was a surprising top and bottom line beat.
5) Warren Buffett still has “it”. Berkshire Hathaway’s A shares closed above $150,000 for the first time ever.
6) The market showed signs that this rally was getting tired, but ended the week on a strong note.

Negatives:

1) Prices at the pump have risen for 36 straight days
2) Legendary trader Marty Zweig, who predicted the 87 crash has passed away
3) U.S. home-builder confidence declined for the first time in 11 months.
4) Housing starts in January fell to 890k versus expectations of 920k, a drop of 8.5%
5) French service sector activity shrank in February at its fastest rate in nearly four years,
6) Euro Stoxx 50 volatility index is up 40% in the past month
7) Bullish sentiment declined again this week, marking the fourth weekly decline in a row. Based on the weekly survey from the American Association of Individual Investors (AAII
8) Jobless claims increased by 20,000 to 362,000 in the week ended Feb. 16
9) It took only 2 days to erase all monthly gains in the Nasdaq and the Dow
10) The S&P 500 ended lower for the first time in 7 weeks.
11) Comodities got hammered with copper, oil and metals all getting whacked.
12) The European Commission has put out a forecast that the Euro Zone growth would shrink by 0.3% in 2013.
13) The producer-price index rose 0.2% after a 0.3% drop in December. Wholesale prices in the U.S were higher in January for the first time in four months.

Category: Markets

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

13 Responses to “Succinct Summation of Weeks Events (Feb 19 2013)”

  1. VennData says:

    U.S. air travelers will feel budget cut effects quickly: union

    The union that resulted when Bush socialized the flight check-in procedures that got all the right wing nuts apoplectic when they searched white people is now telling you that the Tea Party sequestration will hit the business community and holiday travelers alike by wasting your time.

    Oh, but Obama and the Democrats are what are the problem in this once-great country… right…

    http://www.reuters.com/article/2013/02/22/us-usa-fiscal-air-travel-idUSBRE91L0YB20130222

    You freaking Republicans are just so emotionally warped by your media echo chamber, that it’s the top source for comedy in the country right now. You, angry white GOP voter are the funniest thing around.

  2. carleric says:

    Marty always seemed like one of the good guys…vaya con Dios Marty.

    By the way when did this become a political forum? And now we are doing ad hominem attacks as well? Gee, I need to pay more attention.

  3. willid3 says:

    so much for all of that noise about the need for STEM .

    http://www.theatlantic.com/business/archive/2013/02/the-phd-bust-americas-awful-market-for-young-scientists-in-7-charts/273339/
    and glad you asked is it better for Americans/ not really
    http://www.theatlantic.com/business/archive/2013/02/the-phd-bust-pt-ii-how-bad-is-the-job-market-for-young-american-born-scientists/273377/

    seems that a lot of PHD’s can’t find jobs. or have to actually do more education post PHD to get a job. and i have actually seen how this works. my sister got her PHD a few years back. only spent a few years in her field, now she has to be in a job thats isnt related to her degree.

  4. duaneteddy says:

    So sorry to hear about Martin Zweig’s death. My condolences to the family. I was fortunate enough to be a student of his in the MBA program at Iona College in the late 1970s. He taught finance, obviously, and used to come to class with computer printouts of indicators he followed. He was a great teacher and turned this electrical engineer into a finance guy. I will be eternally grateful to him.

  5. wrongtrade says:

    VennData, perhaps you’ve been out of town on business. I suggest would you please review BL’s post regarding the “Comments” section from earlier this week? Darn I clicked on comments to hopefully read something interesting and insightful and look what happened. Now people have to read this quasi ad hominem comment that further wasted time and space.

  6. LLouis says:

    Alberta and its government hits a snag: too much relying on one source of revenue with one customer (U.S.A.) who is on its way to become a net exporter of oil and gas …
    their finance minister announces a possible 4 billion deficit, natural ressources revenues have been 2.4 billion less than expected for the first nine months of the fidcal year…
    Alberta is like the rich uncle with the cowboy hat in Canada, if he can’t throw money on the hungry provinces like he used to, the social system in Canada will have to endure more cuts…
    Many pipelines projects going south, east and west, but none are on their way to be completed soon…

    http://www.calgaryherald.com/news/alberta/Bitumen+bubble+only+part+Alberta+deficit+story/7994068/story.html

  7. theexpertisin says:

    I always admired the wisdom of Dr. Zweig on Wall Street Week. He was humble, succinct and always seemed to have Plan B if Plan A wasn’t working. For over thirty years, I have tried to avoid fighting the tape and the Fed due to his frequent reminders to all of us who were WSW viewers.

    The man from East Cleveland, Ohio lived the American dream.

  8. jimcos42 says:

    Shouldn’t Negative 7 be a Positive?

  9. seneca says:

    Marty Zweig’s exact words as a panelist on Wall Street Week on the Friday before Black Monday, Oct. 19, 1987:

    “Early next week I expect a violent RALLY.”

    And evermore thereafter he was the man who predicted the 1987 Crash.

  10. gordo365 says:

    Question: why is PPI rise in negative column?

  11. san_fran_sam says:

    Damn! Sorry to hear about Marty Zweig. He, along with Frank Cappiello, were my favorite panelists on the old WSW. I like the photo of Marty at Wikipedia. He looks abou 30 years old.