Succinct Summations of Week’s Events 2.20.14

Succinct Summations week ending February 20th

Positives:

1. Stocks keep humming, the S&P 500 and Russell 2000 made new all-time highs.
2. Initial jobless claims fell to 283k vs the 290k expected.
3. EU consumer confidence hit the highest levels since Sept 2007
4. Markit US manufacturing PMI came in at 54.3, slightly higher than expected.
5.  The Nasdaq Composite is now less than 4% away from taking out the March 2000 highs.

Negatives:

1. PPI fell 0.8% m/o/m vs expectations of a 0.4% drop. Core PPI fell 0.1% m/o/m vs expectations for a 0.1% rise.
2. UK inflation fell to 0.3% in January, the lowest number since they began measuring CPI in 1988.
3. Empire manufacturing index came in at 7.78, a slight miss and down from 9.95 last month.
4. NAHB confidence index fell to 55 in February, down from 57 in January (still firmly in positive territory).
5. Housing starts fell 2% to 1.065mm, slightly lower than expected.
6. Industrial production rose 0.2% in January, below the 0.3% expected rise.
7. Philly fed came in at 5.2 vs 9 expected, the lowest reading in a year.

Category: Markets

History of High-Frequency Trading

Source: Investoo

Category: Digital Media, Quantitative, Trading

10 Insane Things We Believe On Wall Street

To outsiders, Wall Street is a manic, dangerous and ridiculous republic unto itself – a sort of bizarro world where nothing adds up and common sense is virtually inapplicable. Consider the following insane things that we believe on Wall Street, that make no sense whatsoever in the real world: 1. Falling gas and home heating…Read More

Category: Corporate Management, Investing, Philosophy, Really, really bad calls

10 Friday AM Reads

Here are our end of week morning train reads: • Walmart CEO Doug McMillon letter to associates regarding minimum salaries (Walmart) see also A stimulus plan for the heretofore unstimulated (TRB) • Revealed: The experts Apple hired to build an electric car (9to5 mac) • Why Nasdaq in 2015 is not the same as 2000 (Irrelevant Investor) • Your Alpha…Read More

Category: Financial Press

Kawasaki’s Totally Illegal Ninja Superbike

  Kawasaki has unveiled the most powerful production motorcycle ever. The 2015 Ninja H2R generates a ludicrous 300 horsepower from its supercharged engine. (conpare with Alfa Romeo’s 4C that has 237 HP; BMW’s popular HP4 superbike = 193.   More photos and video after the jump       Source: Businessweek

Category: Weekend

Are We Becoming a Part-Time Economy?

Are We Becoming a Part-Time Economy? By John Robertson, Ellie Terry FEDERAL RESERVE BANK OF ATLANTA, FEBRUARY 12, 2015     Compared with 2007, the U.S. labor market now has about 2.5 million more people working part-time and about 2.2 million fewer people working full-time. In this sense, U.S. businesses are more reliant on part-time…Read More

Category: Markets

Subprime Rising

Source: WSJ

Category: Credit

Swiss Leaks

Source: WonkBlog

Category: Finance, Legal

Another one from the archives I was saving for while I am otherwise occupied. Enjoy. ~~~ Having a fluency in the writing arts is one of the prerequisites for a career in journalism. The ability to sum up an event in an understandable manner is crucial. But people with highly developed language skills often lack…Read More

Category: Financial Press

10 Thursday AM Reads

Happy Chinese New Year — the year of the goat.  But there are no goats in our morning train reads: • Why the Alarms About a Slight Rate Hike? (WSJ) see also Fed Appears to Hesitate on Raising Interest Rate (NYT) • Bull Signal: Basic Material Stocks Starting to Rally (Barron’s) • The Miracle of Minneapolis: No other place mixes…Read More

Category: Financial Press