Weekly Market Snapshot

News Last Week

  • Monday global markets rose on the news from the weekend that President Trump had announced a deal between the U.S. and Mexico that meant tariffs on Mexican imports would be ‘indefinitely suspended’.
  • Monday Raytheon and United Technologies announced merger plans.
  • Salesforce shares fell as much as 8% Monday after announcing their purchase of Tableau for $15.3 billion.
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  • Beyond Meat shares continued to rise Monday, as much as 34%, or more than 560% from the May IPO. Tuesday, the stock fell 25% after J.P. Morgan downgraded the stock.
  • Wednesday cybersecurity company Crowdstrike commenced trading on Nasdaq, with shares closing 70% higher.
  • Mattel shares jumped 9% Wednesday after rejecting a merger offer from MGA Entertainment Inc.
  • Oil futures rose as much as 4% Thursday on reports that two oil tankers had been attacked in the Gulf of Oman.
  • Thursday President Trump announced he was ‘looking at’ sanctions on Germany if the Nord Stream 2 pipeline were to go ahead.
  • Thursday gig-economy company Fiverr International Ltd. commenced trading with shares soaring 90% in their first session.
  • Friday shares of Broadcom were down 7% in early trade after the company gave a gloomy forecast. An analyst at BofA Merrill Lynch said that the reduced outlook “could indicate continued weak iPhone units”.
  • Monday: JOLTs Survey for April revealed 7.45 million job openings. Hiring rose to 5.9 million, the highest in the data series’ history.
  • Tuesday: NFIB Small Business Index for May was 105, higher-than-expected.
  • Tuesday: Producer Price Index for May came in at 0.1% or 1.8% year-on-year.
  • Wednesday: Consumer Price Index for May rose 0.1%, or 1.8% year-on-year.
  • Wednesday: Core CPI for May also rose by 0.1%, or 2% year-on-year.
  • Thursday: Weekly Jobless Claims for week of 6/8 were 222,000.
  • Friday: Retail Sales for May grew 0.5%. April’s decline was revised to a 0.3% gain.
  • Friday: Industrial Production for May rose 0.4%.
  • Friday: Consumer Sentiment for June fell to 97.9, lower-than-expected.

News Next Week

  • Monday: Empire Manufacturing Survey for June at 8.30am.
  • Monday: NAHB Home Builder Survey for June at 10.00am.
  • Tuesday: Housing Starts for May at 8.30am.
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  • Tuesday: FOMC meeting commences.
  • Wednesday: FOMC decision at 2.00pm.
  • Thursday: Weekly Jobless Claims for week of 6/15.
  • Thursday: Philly Fed Index for June at 8.30am.
  • Friday: Existing Home Sales for May at 10.00am.

Featured Chart

06/17/2019

Starting yields and the ability to withstand rate increases

With duration being equal, a fixed income security with a higher starting yield means that it can withstand more significant increases in interest rates...

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