Succinct Summation of Week’s Events, July 12, 2019


This post is by Barry Ritholtz from The Big Picture


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Succinct Summations for the week ending July 12th, 2019

Positives:

1. Markets made new all time highs, as the Dow breaks 27,000 and the S&P 500 breaches 3000. Despite whjat you may have heard, new all time highs are always bullish.
2. Same store sales rose 6.2% w/o/w, higher than the previous increase of 5.5%.
3. Jobless claims fell 13k w/o/w from 222k to 209k.
4. Home mortgage apps rose 2.0% w/o/w, up from the previous increase of 1.0%.
5. Consumer credit rose $17.1B m/o/m, exceeding the expected $17.0B.
6. CPI rose 0.1% m/o/m, greater than the expected no change.

Negatives:

1. Acosta out, as yet another Trump cabinet member resigns in scandal; more repercussions likely to come.
2. Job openings came in at 7.323M in May, below the expected 7.400M.
3. Home mortgage refinance apps fell 7.0%

down from previous decrease of 1.0%.
4. Wholesale trade rose 0.4% m/o/m, lower than the previous increase of 0.8%.
5. TD Ameritrade IMX fell 0.32 points in June, as retail investors were net sellers for the first time in 2 years.

 

Thanks, Matt!

The post Succinct Summation of Week’s Events, July 12, 2019 appeared first on The Big Picture.

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