Succinct Summations week ending 4.25.14
1. U.S. Durable goods rise 2.6% v 2% expected, biggest rise since January
2. University of Michigan consumer comes in at 84.1, the highest reading since July.
3. Euro-area PMI rose to 54 in April, up from 53.1 in March and higher than 53 expected
4. Richmond Fed comes in at 7 v 2 expected.
5. China HSBC PMI came in at 48.3, up from 48 in March.
6. Philly fed came in at 16.6, well above the 10 expected.
1. Existing home sales fall to 4.59 million SAAR, the lowest since July 2012
2. New home sales tumbled 14.5% m/o/m to an annualized pace of 384k units v 450k expected, ugly miss.
3. High flying stocks continue to get crushed, the Nasdaq internet index sold off 4% on Friday.
4. U.S. manufacturing PMI fell to 55.4 from 55.5 in March and below 56 expected.
5. Mortgage applications fell 3.3% last week.
6. Initial jobless claims come in at 329k v 315k expected