Succinct Summations of Week’s Events (3.6.15) (+ fun if irrelevant bonus)

It's that time of week again.  And this Sunday I am providing a different kind of bonus.  I'm not really a drinker at all; I might have one or two glasses of wine each year.  The same with coffee.  But I've always been fascinated with wine, especially when I read about people being willing to spend several hundred dollars for a single bottle (and swearing it really is ten times better than a $30 bottle) and even occasionally reading about some outrageous vintage in Europe that sells for hundreds of thousands per bottle (that's not a typo - a bottle, not a case!  Speak of redefining conspicuous consumption!)  I mean how can anyone in good conscience spend as much on a bottle of wine that will be gone in an hour as they would on a (really nice) house?  I've already had a 30 year career as a Main Street corporate manager and now as I prepare to enter a new career as a manager on Wall Street, I am reminded of the oft-used expression "wining and dining clients," a phrase that is not at all metaphorical.  So if an important part of procuring clients is knowing your high class wines and dines, then the graphic that Barry Ritholtz published on his blog on Friday is a must study.  If we've been getting a nice benefit from these weekly eye-shots on the market, I thought it would be fun to take a look at this one-page tutorial on everything (kind of sort of) that you need to know about wine, even if it is only very tangentially relevant to our interests here.  Bon vivant!

Succinct Summations of Week’s Events (3.6.15)

by Barry Ritholtz - March 6th, 2015, 4:30pm

Succinct Summations of events for week ending March 6^th 2015:

Positives:

1. U.S. Nonfarm payrolls came in at 295k vs expectations for 240k.
2. Unemployment fell to 5.5%, down from 5.7% in January and the lowest level since May 2008.
3. The NASDAQ Composite crossed 5,000 for the first time in 15 years.
4. January ADP payrolls revised up to 250k from 213 previously reported.
5. Markit’s PMI came in at 55.1, better than the 54.3 expected and up from 53.9 last month.
6. ISM services came in at 57.1, in line with expectations and up from 54.2 in January.
7. The US economy has added 200k jobs for 12 straight months.

Negatives:

1. ADP private payrolls came in at 212k, vs the 219k estimated.
2. Personal income rose 0.3% vs expectations for a 0.4% rise.
3. Personal spending fell 0.2% vs expectations for a 0.1% decline.
4. The ISM manufacturing fell to 52.9, a slight miss and below last month’s 53.5
5. Ford sales fell 2%, well below the expectations for a 5.8% gain. GM missed expectations as well.
6. Initial jobless claims came in at 320k, higher than the 295k expected.
7. Average hourly earnings rose 2% y/o/y, still pretty tepid.

FUN BONUS:
Periodic Table of Wine | The Big Picture