Weekly Market Snapshot

News Last Week

  • Tuesday PepsiCo announced earnings, beating Wall St estimates.
  • The Trump administration released a list of $200 billion worth of Chinese exports to the U.S. Tuesday, that could be subject to new 10% tariffs.
  • Wednesday Pfizer announced that the price for 100 of its products would revert to their pre-July 1 levels after the company was the subject of a tweet by President Trump on drug pricing.
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  • Wednesday 21st Century Fox raised its bid for U.K. broadcaster Sky to 14 pounds per share, up from 10.75.
  • Thursday saw the Department of Justice file to appeal the AT&T-Time Warner merger.
  • Broadcom shares sank 19% Thursday in the wake of a surprise bid to buy software company CA Inc.
  • Friday JP Morgan shares rose on a better-than-expected earnings result. The company recorded an 18% increase in profit on the back of an unexpected jump in trading revenue.
  • Tuesday: Job Openings for May were 6.6 million. Meanwhile the quits rate was the highest since 2001, revealing that workers feel so confident about the economy that they are willing to leave one employer for another.
  • Wednesday: The Producer Price index for June came in at 0.3%, the highest since 2011.
  • Thursday The Consumer Price Index for June rose by 0.1% versus 0.2% expected by analysts. The year-on-year increase was 2.9%, the highest in more than six years.
  • Thursday: Weekly Jobless Claims for week 7/7 were 214,000, lower-than-expected.
  • Friday: Consumer Sentiment Index for July was 97.1 versus a forecast 98.9.

News Next Week

  • Monday: Retail Sales for June at 8.30am.
  • Tuesday: Industrial Production for June at 9.15am.
  • Wednesday: Housing Starts for June at 8.30am.
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  • Thursday: Weekly Jobless Claims for 7/14 at 8.30am.
  • Thursday: Philly Fed for July at 8.30am.

Featured 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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