Sunday, April 16, 2017

Succinct Summations of Week’s Events 4.14.17 (plus the end of WaPo)

Hope everyone had a very happy Easter weekend and though it was an unusual week in the markets given the low participation since many were on vacation, below is the usual Sunday night succinct weekly summary.  The bonus this weekend is an unfortunate announcement from Barry Ritholtz that, after seven years of contributing financial advice to the Washington Post (aka WaPo), the Post has made a management decision to curtail its investment section so Ritholtz's column will no longer appear in that newspaper.  It's their loss but we will continue to benefit from his considerable experience and wisdom through his daily "The Big Picture" blog.


I call it a bonus because he's blessing us this week with links to every column he's published in WaPo since 2011.  So this particular Marias post may deserve a bookmark since this represents a wealth of information all in one convenient location.  So take advantage of it as a reference and I hope everyone has had a great weekend.

Succinct Summations of Week’s Events 4.14.17

Succinct Summations for the week ending April 14th, 2017.

Positives
  1. MBA purchase applications rose 3% w/o/w, and are up 5% from the same time last year.
  2. Import prices, dragged lower by oil, fell 0.2% m/o/m.
  3. PPI remains soft, falling 0.1% m/o/m. Y/O/Y rose 2.3%, its highest in five years, due to easy oil comps.
  4. Jobless claims remain low, coming in at 234k, with the 4-week average at 247.25k.
  5. Consumer sentiment remains strong, coming in at 98, up from 96.9 previously.
  6. NFIB small business optimism index remains strong, coming in at 104.8.
Negatives
  1. Retail spending fell 0.2% m/o/m, wrapping up a weak quarter for consumer spending.
  2. CPI fell 0.3% m/o/m, the core fell 0.1%.
  3. The S&P 500 fell 1.1%, its second worst week of 2017.


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