Weekly Market Snapshot

News Last Week

  • Monday building-materials firm Knauf announced plans to buyout USG for $7 billion.
  • Tuesday a federal court judge ruled in favor of AT&T’s acquisition of Time Warner for $85 billion. Time Warner shares rose over 5% in after-hours trading as a result.
  • Tuesday Tesla announced plans to cut 9% of its global workforce which equates to approximately 3,500 employees.
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  • Wednesday Comcast announced its bid to purchase 21st Century Fox for $65 billion.
  • Wednesday Toyota announced plans to invest $1 billion in Grab, a Southeast Asian ride-hailing firm.
  • Wednesday Johnson & Johnson agreed to sell its LifeScan unit to a private equity firm, Platinum Equity, for $2.1 billion. LifeScan produces products that monitor blood glucose.
  • Thursday Etsy announced plans to increase its base take rate — the fee Etsy collects from each sale on its platform. Shares were up as much as 35% as a result of the news.
  • Thursday Royal Caribbean Cruises announced a $1 billion deal to purchase a controlling stake in the privately held luxury-cruise operator, Silversea.
  • Despite positive earnings results for Adobe on Thursday, beating on both top and bottom, shares fell 3% in after-hours trading.
  • Tuesday: Consumer Price Index for May came in as expected at 0.2% for a year-on-year reading of 2.8%.
  • Wednesday: PPI-FD for May came in at 0.5%, up from April’s 0.1%. Year-on-year producer prices rose to 3.1%.
  • Wednesday: The FOMC increased the target range for rates by the expected amount of 0.25% to 1.75%- 2.0%
  • Thursday: Retail Sales for May beat expectations by a wide margin, rising 0.8%. The year-on-year rate was up 5.9%.
  • Friday: Industrial Production for May unexpectedly dropped 0.1%.
  • Friday: Consumer Sentiment for June(p) climbed slightly to 99.3, moving the opposite direction of consensus estimates.

News Next Week

  • Tuesday: Housing Starts for May at 8.30am
  • n Wednesday: Existing Home Sales for February at 10.00am
  • Thursday: Philadelphia Fed Business Outlook Survey for June at 8.30am
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Featured Chart

the cost of more income chart

06/18/2018

The cost of more income

The search for higher yield within various sectors of the fixed income market runs the risk of large drawdowns if things go wrong. Make...

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