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Succinct Summations of Week’s Event’s 4.25.14

Posted By Barry Ritholtz On April 25, 2014 @ 4:00 pm In Markets | Comments Disabled

Succinct Summations week ending 4.25.14

Positives:

1. U.S. Durable goods rise 2.6% v 2% expected, biggest rise since January
2. University of Michigan consumer comes in at 84.1, the highest reading since July.
3. Euro-area PMI rose to 54 in April, up from 53.1 in March and higher than 53 expected
4. Richmond Fed comes in at 7 v 2 expected.
5. China HSBC PMI came in at 48.3, up from 48 in March.
6. Philly fed came in at 16.6, well above the 10 expected.

Negatives:

1. Existing home sales fall to 4.59 million SAAR, the lowest since July 2012
2.  New home sales tumbled 14.5% m/o/m to an annualized pace of 384k units v 450k expected, ugly miss.
3. High flying stocks continue to get crushed, the Nasdaq internet index sold off 4% on Friday.
4. U.S. manufacturing PMI fell to 55.4 from 55.5 in March and below 56 expected.
5. Mortgage applications fell 3.3% last week.
6. Initial jobless claims come in at 329k v 315k expected

 
 

 


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