Succinct Summations week ending March 14, 2014
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.
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.
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.