Weekly Market Snapshot

Download the Weekly Market Snapshot to stay up-to-date with stock markets and sectors, bond market returns and financial news for the week.

News Last Week

  • Monday Xerox announced it was calling off its merger with Fujifilm in a settlement with activist investors Darwin Deason and Carl Icahn.
  • Monday President Trump tweeted that the U.S. would rescind sanctions against Chinese telecom giant ZTE. The move appeared to be part of a larger agreement to try and protect U.S. farmers, according to a report in the Wall Street Journal.
  • The Supreme Court struck down a federal sports-betting ban Monday. Professional sports teams and gambling companies are expected to benefit most from the move.
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  • Wednesday Macy’s shares rose 10% before the open in the wake of releasing first quarter earnings that were better-than-expected.
  • Thursday online learning company Pluralsight commenced trading at $20 on the Nasdaq, 34% higher than the $15 at which the company had priced the shares in its IPO.
  • Thursday Brent Crude hit $80 and the 10-year yield went through 3.1%.
  • Walmart and Cisco shares were down Thursday after releasing earnings.
  • Shares of Applied Materials dropped more than 9.5% Friday, its worst day since 2009. The plunge came after the company lowered its current-quarter revenue and sales projections below Wall St expectations.
  • Tuesday: Retail Sales for April came in at 0.3% month-on-month, in line with expectations.
  • Wednesday: Housing Starts for April dropped 3.7% to 1.287 million, but are still near an 11-year high.
  • Wednesday: Industrial Production for April rose 0.7% versus the 0.6% increase that was expected. Manufacturing output rose 0.5% for the month.
  • Wednesday: The EIA Petroleum Status Report showed the weekly change for week 5/11 of crude oil inventories at -1.4 million barrels.
  • Thursday: Jobless Claims for week 5/12 were 222,000, higher than expected. However, the number of Americans on unemployment fell to the lowest level since 1973.
  • Thursday: The Philadelphia Fed Business Outlook Survey for May jumped to 34.4 from 23.3 in April. This was the highest reading in a year and well above the expectation of 21.

News Next Week

  • Wednesday: PMI Composite Flash for May at 9.45am.
  • Wednesday: New Home Sales for April at 10.00am.
  • Wednesday: EIA Petroleum Status report for week 5/18 at 11.00am.
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  • Wednesday: FOMC minutes released at 2.00pm.
  • Thursday: Jobless Claims for week 5/19 at 8.30am.
  • Thursday: Existing Home Sales for April at 10.00am.
  • Friday: Durable Goods Orders for April at 8.30am.
  • Friday: Consumer Sentiment for May(f) at 10.00am.

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