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Succinct Summation of Week’s Events 4.18.14
Posted By Barry Ritholtz On April 18, 2014 @ 4:00 pm In Markets | Comments Disabled
Succinct Summations week ending April 18
1. The S&P 500 had its best week since July 12.
2. The Philly Fed came in at 16.6, v expectations of 9, nice beat.
3. Initial jobless claims come in at 304k v 315k expected, the four-week moving average is the lowest since 2007..
4. U.S. March retail sales came in at 1.1%, biggest rise since Sept. 2012. Ex-autos 0.7% biggest rise since Feb. 2013.
5. Core CPI advanced 0.2% v 0.1% expected.
6. The Fed Beige book said economic growth “increased in most regions”
7. Yellen said Fed committed to “accommodation to support recovery”- market cheers.
8. AAII bulls fewest since February 5th, skepticism has been fueling this rally for a long time.
1. Japanese consumer confidence fell to the lowest levels since August 2011.
2. U.S. housing starts came in at 946k, 24k less than expected.
3. NAHB came in at 47, below expectations of 49.
4. Empire manufacturing index (1.29 vs 8 ) missed expectations for the 3rd straight month.
5. Gasoline prices rose for the 26th straight day.
6. Chinese GDP came in at 7.4% y/o/y down from readings of 7.7%
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