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Succinct Summations of Week’s Events 5.9.14
Posted By Barry Ritholtz On May 9, 2014 @ 3:30 pm In Markets | No Comments
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.
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