Succinct Summations week ending March 14, 2014

Positives:

1. Initial jobless claims fell to 315k, 6th lowest claim in ~7 years.
2. Despite all the noise, the S&P 500 is 2% off ALL-TIME HIGHS.
3. Gold is at its highest level since September, perhaps a sign of inflation pressures.
4. Retail sales ex-auto & gas rose 0.3% v 0.2% expected.
5. Inventories ex-autos rose 0.7% in January, the largest gain since July.
6. Australia had a huge jobs beat in February, adding 80,500 full-time workers, the second largest monthly increase on record.
7. U.S. PPI fell o.1% in February, the first decline in 3 months. Inflation is well contained.
8. Central banks in Japan, Indonesia, and South Korea leave rates unchanged. Thailand cuts, while New Zealand hikes due to inflation concerns.

Negatives:

1. Chinese exports collapsed 18.1% from a year earlier to its lowest level since 2009.
2.  The German DAX fell 4% this week and is down 8% in March.
3. Fears over a Russian invasion of Crimea has amplified stock market volatility.
4. Business sales fell 0.9% in January, the largest drop since March (cold weather blamed).
5. Nasdaq had its largest weekly loss in over 6 months, down a whopping 1.7%
5. January retail sales were revised down to -0.6% from -0.4%.
7. Consumer confidence fell to 79.9 v 82 expected.
8. NFIB small business optimism fell to the lowest reading since March ’13
9. European stocks slid to a one-month low.
10. Chinese Yuan saw its biggest daily decline since 2008 thanks to a string of bad data.

 

 

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.

9 Responses to “Succinct Summations of Week’s Events 3.14.14”

  1. SteveC says:

    I’m wondering if the move in gold is more a response to the risk of military confrontation in Crimea, than risk of inflation? For whatever reason, global conflicts tend to fire up the gold bugs.

  2. willid3 says:

    capitalists used to be low man on the totem poll, now they are royalty?
    http://money.cnn.com/magazines/fortune/fortune_archive/2000/07/24/284681/index.htm

  3. VennData says:

    Bill-Gates Declares Half of Silicon Valley Startups are Silly

    http://www.telegraph.co.uk/technology/bill-gates/10697404/Half-of-Silicon-Valley-startups-are-silly-says-Bill-Gates.html

    Hey, Bill? Which ones?

  4. Willy2 says:

    Chinese exports falling 18% is – IMO – an overstatement of the real situation. My personal take (and I have zero proof) on this is that exports were already falling for months but the chinese authorities weren’t willing to admit it. But as the trend continued the authorities were forced to bring out the news. They simply couldn’t ignore it anymore. Hence the large drop now.

  5. trafficengineer says:

    Weekend entertainment/nightmare. Forget drones that can zap you. Here is a Quadcopter with a machine gun.
    http://goo.gl/yneEqh

  6. CD4P says:

    Hey! The “Cash for Gold” store in the neighborhood has closed!

  7. chartist says:

    Automotive stocks continue to break down….Mark my words, this isn’t market correction isn’t over until Ford trades below $10 per share which I expect this summer.