Succinct Summations week ending June 13th
1. The S&P 500 and Dow Jones made all-time highs (again).
2. Import prices rose 0.1% m/o/m
3. NFIB small business optimism came in at 96.6 vs. 95.8 expected.
4. JOTS job openings = 4.45mm in April (vs expectations of 4.05mm), up from 4.16mm in March, the most since September ’07.
5. After falling for four weeks purchase applications to buy a home rose 9.3% to the most since January. Refi applications were higher by 11%.
6. MBA mortgage applications grew 10.3 last week, up from -3.1% the week prior.
7. PPI dropped 0.2% m/o/m vs expectations for a 0.1% rise.
8. Retail sales in China rose more than expected in May, while industrial production, fixed asset investment and aggregate financing all increase in line with forecasts
9. Japan’s Q1 GDP figure revised to annualized 6.7%.
1. Crude oil rose to its highest levels since last September on Iraq fears.
2. Wholesale inventories grew 1.1% m/o/m v only 0.6% expected.
3. Retail sales grew 0.3% m/o/m vs. expectations of a 0.6% (on better than expected weather).
4. World Bank reduced its global growth forecast for 2014 to 2.8% from its previous estimate of 3.2%
5. Initial jobless claims rose to 317k, up from 312k last week.
6. U of Mich confidence came in at 81.2, below 83 expected.
7. Chinese home sales fall 11% year-over-year in May as the air starts to come out of Chinas overheated property market.
8. S&P 500 and Dow snapped their three week winning streak.
9. Retail sales ex-autos grew 0.1% m/o/m vs expectations of a 0.4% rise
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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