Succinct Summations week ending June 20th
1. The Nasdaq and S&P 500 both made new 52-week highs.
2. AAII bullish sentiment weekly decline was the largest drop since January.
3. Homebuilder sentiment climbed from 45 to 49 vs 47 expected.
4. Philly Fed came in higher than expected for the 4th straight month.
5. Fed continues to taper $10B a month, market likes, S&P 500 closes at all-time highs.
6. Empire manufacturing index came in at its highest level since 2010
7. Industrial production grew by 0.6% m/o/m, better than expected, April #’s were revised up.
8. Initial jobless claims 4-week moving average moved down to 312k, continuing claims hit the lowest levels since ’07.
1. Crude oil closed at the highest price since last fall.
2. High yield spreads are at their lowest levels since 2007, something to keep an eye on.
3. Housing starts and building permits both came in lower than expected.
4. CPI came in higher than expected, 0.4% v 0.2% expected and +2.1% Y/O/Y (highest M/O/M increase in over 4 years).
5. Japanese exports fell 2.7% y/o/y vs estimates of a 1.3% decline.
6. UK home prices continue their vertical climb, rising 9.9% y/o/y, the most since ’10.
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.
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