Weekly Market Snapshot

News Last Week

  • Monday Deutsche Bank announced it is planning to create a “bad bank” to house or sell assets valued at up to 50 billion euros, and would shrink or close its U.S. equity and trading businesses.
  • Tuesday the Dow rose more than 350 points in morning trading after President Trump said he would meet with his Chinese counterpart at the G-20 meeting.
  • Tuesday Facebook announced its cryptocurrency, Libra. Partners in the venture include Visa, Mastercard, eBay, Spotify, Uber and Vodafone. Facebook also revealed they are building an app called Calibra, that would let users send and receive the digital currency.
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  • Wednesday rates were left unchanged at the conclusion of the Fed meeting. Thursday the S&P500 hit a new record high as Wall St bet that the Fed will lower rates, possibly as soon as next month.
  • Wednesday Reuter reported that Apple was considering moving 15-30% of their production from China to Southeast Asia.
  • Workplace-messaging firm Slack commenced trading on the NYSE Thursday with a near 50% gain on the reference price set by the exchange.
  • Thursday oil prices jumped more than 5% after President Trump said Iran had made a ‘very big mistake’ by shooting down a U.S. military drone.
  • Thursday Mexico ratified the USMCA trade deal with the U.S. and Canada.
  • Monday: Empire Manufacturing Survey for June declined 26 points to -8.6, the first negative reading in over 2 years, and the largest-ever drop.
  • Monday: NAHB Home Builder Survey for June fell to 64. Any reading over 50 signals improvement.
  • Tuesday: Housing Starts for May were 1.27 million.
  • Thursday: Weekly Jobless Claims for week of 6/15 were 216,000.
  • Thursday: Philly Fed Index for June was 0.3, lower-than-expected.
  • Friday: Existing Home Sales for May were 5.34 million.

News Next Week

  • Monday: Chicago Fed National Activity for May at 8.30am.
  • Tuesday: Case-Shiller Home Price Index for April at 9.00am.
  • Tuesday: Consumer Confidence Index for June at 10.00am.
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  • Tuesday: New Home Sales for May at 10.00am.
  • Wednesday: Durable Goods Orders for May at 8.30am.
  • Thursday: Weekly Jobless Claims for week 6/22 at 8.30am.
  • Thursday: GDP Revision for Q1 at 8.30am.
  • Friday: Consumer Spending for May at 8.30am.
  • Friday: Core Inflation for May at 8.30am.
  • Friday: Chicago PMI for June at 9.45am.
  • Friday: Consumer Sentiment (final) for June at 10.00am.

Featured Chart

06/24/2019

The US economic recovery is aging gracefully

Although the U.S. is currently in its 10th year of recovery, the growth rate has been slow compared to prior recovery...

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