Succinct Summations of Week’s Events 5.18.18

Succinct Summations for the week ending May 18th, 2018 Positives: 1. Same store sales growth rose 4.9% y/o/y, up 0.7% from previous 4.2% increase. 2. Jobless claims came in at 222k, sending 4-week average down 2,750 to 213,250. 3. Crude oil inventories fell 1.4 million barrels w/o/w to 432.4 million, 4. E-commerce retail sales rose 3.9% in… Read More The post Succinct Summations of Week’s Events 5.18.18 appeared first on The Big Picture.

Succinct Summation of Week’s Events 4.27.18

Succinct Summations for the week ending April 27th, 2018 Positives: 1. First quarter GDP rose 2.3%. 2. Durable goods orders rose 2.6%, beating the expected 1.7%. 3. Jobless claims fell 21k, down from 232k to 209k. 4. Existing home sales rose 1.1%, beating expectations; New home sales rose to 694k, above the 630k expected. 5. PMI Composite… Read More The post Succinct Summation of Week’s Events 4.27.18 appeared first on The Big Picture.

Succinct Summation of Week’s Events for 3.30.18

Succinct Summations for the week ending March 30th, 2018 Positives: 1. Wages and salaries gained 0.5%; Personal income rose 0.4% m/o/m, in line with expectations. 2. Same store sales rose 3.6% y/o/y, above the previous 3.2% increase. 3. Jobless claims fell from 229k to 215k, the lowest reading in 45 years. 4. Mortgage applications rose 4.8%, up… Read More The post Succinct Summation of Week’s Events for 3.30.18 appeared first on The Big Picture.

Household Net Worth is Down, except for Top 10%

Despite all-time highs in stock and home prices, household net worth is down — except for the Top 10% Source: Deutsche Bank Research   If you want a better understanding of the current age of Pseudo-Popularism and all of its discontents, you could do much worse than this simple chart above. From Torsten Sløk: One important… Read More The post Household Net Worth is Down, except for Top 10% appeared first on The Big Picture.

Succinct Summation of Week’s Events 3.23.18

Succinct Summations for the week ending March 23rd, 2018 Positives: 1. Existing home sales rose 3% m/o/m to a 5.54m annualized rate; 2. Durable goods orders rose 3.1% m/o/m, well over 1.7% expected increase. Core capital goods rose 1.8%, above the 0.7% expected increase. 3. Index of Leading Economic indicators rose 0.6%, above 0.3% consensus.… Read More The post Succinct Summation of Week’s Events 3.23.18 appeared first on The Big Picture.

Succinct Summations of the Week’s Events 3.16.18

Succinct Summations for the week ending March 16th, 2018 Positives: 1. Jobless claims fell by 4k w/o/w, down from 230k to 226k. 2. Home mortgage applications rose a seasonally adjusted 3% w/o/w. 3. Industrial production rose 1.1% in February. 4. The housing market index still shows optimism, coming in at an index score of 70.… Read More The post Succinct Summations of the Week’s Events 3.16.18 appeared first on The Big Picture.

Succinct Summation of the Week’s Events for 3.9.18

Succinct Summations for the week ending March 9th, 2018: Positives: 1. S&P 500, Dow and NASDAQ 100 all gain more than 3% on week; 2. Nonfarm payrolls rose 313k in February, well above the 205k expected 3. Labor participation rate rose from 62.7% to 63% — above the 62.7% expected. 4. Same store sales rose 3.8% y/o/y.… Read More The post Succinct Summation of the Week’s Events for 3.9.18 appeared first on The Big Picture.

When Bear Markets End

click for ginormous chart Source: RWM, Bloomberg     There are many reasons why I believe you should not date bull markets from the prior bear market lows. But two reasons standout in particular. The first is hindsight: Consider what it was like during the 1970s bear market. There were multiple rallies and sell offs –… Read More The post When Bear Markets End appeared first on The Big Picture.