Succinct Summation of Weeks Events 7.14.17 (plus $829 bonus)

It's time for the ever popular weekly summation with the Dow boosting Yellen speech being first in the headlines and the biggest negative that small business optimism fell less than 1% off a 12-year high.  The Sunday bonus this week is, continuing on the topic of Ed Thorp introduced yesterday, his 1967 classic text "Beat the Market" which currently sells for $829 on Amazon, I discovered last night available as a free pdf at the link below, a link posted two years ago by Thorp himself.  Enjoy, and hope everyone had a great weekend.


Beat the Market: A Scientific Stock Market System. (PDF Download Available)

Succinct Summation of Weeks Events 7.14.17

July 14, 2017 4:30pm by Barry Ritholtz

Succinct Summations for the week ending July 14th, 2017

Positives:

1. Federal Reserve Chair Janet Yellen sounded dovish in Congressional noting inflation is soft and wages remain below where she was hoping. Bad is good as it means lower for longer;
2. Industrial production rose 0.4% m/o/m, above the 0.3% expected increase. The previous month was revised 0.1% higher.
3. Initial jobless claims remain low, coming in at 277k.
4. UK unemployment fell to 4.5% in May, the lowest reading since 1975.
5. Consumer sentiment remains high, at 93.1.

Negatives:

1. Retail sales fell 0.2% in June, well below the expected 0.1% increase.
2. The small business optimism index fell 0.9 points to 103.6, its lowest reading of the year. Coming off a twelve-year high, this number is still very strong.
3. Producer prices edged only 0.1 percent higher in June. Inflation remains non-existent.
4. CPI also barely budged, rising just 0.1% mo/m and 1.6% y/o/y.
5. MBA purchases applications fell 3% w/o/w.
6. Eurozone industrial production rose 4% m/o/m in May, the most since August 2011.