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Succinct Summations for Weeks Event (3.7.14)
Posted By Barry Ritholtz On March 7, 2014 @ 4:00 pm In Markets | Comments Disabled
Succinct Summations week ending March 7, 2014
1. The MSCI World index has hit a new all-time high.
2. The market hit new all-time highs on Tuesday, 24 hours after a flight to safety.
3. Nonfarm payrolls came in at 175k, well ahead of the 149k expected.
4. Average hourly earnings rose 0.4% and are up 2.2% y/o/y.
5. U.S. PMI came in at 57.1, beating expectations and highest level since May 2010.
6. Spending increased 0.4% vs expectations for a 0.1% gain.
7. Basic earnings of workers rose in Japan (January) for the first time in nearly 2 years! (H/T Abenomics)
8. Initial jobless claims came in at 323k, down from 348k.
9. Personal income up 0.3%, in line with expectations.
10. February ISM came in at 53.2 v expectations of 52.3.
11. Euro zone PMI was revised from 51.7 up to 52.6
1. The week got off to a rough start with the Russian stock market off 10%, flight to safety ensued.
2. The unemployment rate ticked up to 6.7% from 6.6%.
3. Productivity in Q4 Rose 1.8%, down from 3.2% in Q3 and below expectations.
4.February SAAR vehicle sales came in below expectations and flat y/o/y.
5. Russia’s stock market was down 10% on Monday
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