Succinct Summations of the week ending 5.9.14:
1. Despite some trouble in select areas of the market, the Dow made new all-time highs this week.
2. Initial jobless claims came in at 319k, less than expected and down from last week.
3. Total exports increased 2.1% m/o/m in March, up from a 1.3% decline in February
4. Purchase applications jumped .9% w/o/w as 30 yr mortgage rates hit a 26 week low.
5. The trade deficit narrowed to $40.4B in March, down from $41.9B in February.
6. ISM non-manufacturing increase to 55.2 in April, up from 53.1 in March.
7. EU PMI services index came in at 53.1, the highest level since June 2011.
1. Japan April PMI services index fell to 46.4, the lowest level since September 2011.
2. Productivity fell 1.7% annualized in Q1 v exoectations of a 1.2% fall.
3. The Russell 2000 closed below its 200 day moving average for the first time since 2012.
4. China services PMI fell to 51.4 from 51.9.
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.