Succinct Summation of Week’s Events 5.22.20 (plus Investing Mistakes To Avoid -- free AAII webinar)

Okay, hope everyone had a great Memorial Day and below is the weekly summation, the biggest positive being that the markets seems to be stabilizing a bit with improving news on developing treatments and vaccines, the biggest negative the spike in infection rates in the areas that have reopened too hastily, bringing much warranted fears of the dreaded second wave. The bonus this Memorial Day weekend is a heads-up on a free webinar the AAII will be offering Wednesday night on the mistakes to avoid in the markets in the coming year.  It can be watched live at 6:30 p.m., but you do have to register for it. 


Succinct Summation of Week’s Events 5.22.20
May 22, 2020 5:30pm by Barry Ritholtz

Succinct Summations for the week ending May 22nd, 2020

Positives:

1. Markets seem to find more stability on improving Covid-19 treatment news
2. Index of leading economic indicators fell 4.4% m/o/m, above expected decrease of 5.9%.
3. E-Commerce retail sales rose 2.4% w/o/w, above the previous increase of 2.2%.
4. Home mortgage apps rose 6.0% w/o/w, rising again after the previous 11% increase.
5. PMI Composite stands at 36.4 for May, above the previous 27.4.

Negatives:

1. Early signs of hasty re-opening are greater a 10% increase in infection rates
2. Jobless claims fell from 2.687M to 2.438M w/o/w, above the expected 2.375k.
3. Same store sales fell 9.5% w/o/w, down from the previous decrease of 7.5%. .
4. Existing home sales fell from 5.270M to 4.330M in April.
5. Housing starts came in at 0.891M for March, below the expected 0.968M.
6. Home refinance apps fell 6.0% w/o/w, below the previous decrease of 3.0%.

AAII/Alliance for Investor Education Live Webinar Event: May 27 The American Association of Individual Investors (AAII) and the Alliance for Investor Education (AIE) invite you to participate in a live video event! Join us on Wednesday, May 27, at 7:30 p.m. CDT. Investment Mistakes to Avoid in the Next 6-12 Months In response to the financial upheaval and uncertainty associated with the coronavirus pandemic, the American Association of Individual Investors and the Alliance for Investor Education (AIE) are offering a free webinar featuring experts from leading financial/retirement institutions who will outline the top investment mistakes consumers should avoid in the next six to 12 months. Panelists will include: Kathy StokesDirector, Fraud Prevention Programs, AARP Jason Doss Attorney, President, AIE; President, PIABA Foundation Charles Rotblut, CFA Vice President and Financial Analyst, AAII Robert Stammers, CFA Secretary/Treasurer, AIE; Director of Investor Engagement, Future of Finance Team, CFA Institute Christina Kilroy Vice President, ICI Education Foundation (ICIEF) Anna Ratner Public Policy Counsel, CFP Board   Join your fellow AAII members and register for the event by clicking on the link below. » REGISTER NOW Regards, Ryan Reeh  Assistant Editor/Programs Manager, AAII