Succinct Summations week ending
1. Dow Jones and S&P 500 both hit new all-time highs.
2. NFP saw 3 straight monthly increases for the first time in 3 years.
3. Europe’s Composite PMI Q1 is expected to grow 0.5%, the fastest pace since 2011 (Markit).
4. Dallas Fed manufacturing rose to 4.9, a six month high
5. Private sector NFP back above pre-recession levels.
6. Yellen says “economy needs extraordinary support for some time” Dow jumps 140 points
7. ISM service rose to 53.1 in March, just shy of expectations but up from 51.6 in February.
8. Italian 10-year yields drop to record 3.194%, Spain 5yr yields below US 5yy for first time since 2007.
9. March auto sales increased 9.7% y/o/y
1. Friday saw relentless dumping of high beta stocks, as Nasdaq 100 fell ~2.5%.
2. ADP’s employment report showed private companies added 191k jobs, below the 195k expected.
3. Initial jobless claims rose to 326k last week, up from 310k the prior week and above 319k expected.
4. Chicago PMI came in at 55.9, below the 59.5 expected.
5. ECB leaves rates unchanged; deflation is becoming an increasingly bigger threat.
5. NFP came in at 192,000; economists had predicted a gain of 200k
7. Unemployment rate came in at 6.7%, still too many people looking for too few jobs.
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.