Succinct Summation of Week’s Events 11.28.14

November 28, 2014 1:30pm by Barry Ritholtz

Succinct Summations week ending November 28th

Positives:

1. Stocks keep chugging: Dow made a new all-time high for 5th straight week, S&P 500 for the 4th straight week.
2. Durable goods orders rose 0.4% m/o/m, vs expectations of a 0.6% decline.
3. Q3 GDP came in at 3.9%, better than the 3.3% expected.
4. Crude Oil falls as much as 11.7% this week as OPEC stands pat.
5. New home sales gained 0.7% m/o/m, up from 0.4% In September.
6. Case-Shiller composite gained 0.34% m/o/m, up from 0.12% in the prior month and slightly better than expectations.
7. U of Mich consumer sentiment came in at 88.8, its highest reading since July 2007.
8. Chicago PMI came in at 60.8, still strong but slightly below expectations.

Negatives:

1. Deflationary themes persist as global yields continue to drop; the French 10-year fell below 1% for the first time ever.
2. Personal income rose 0.2% m/o/m, below expectations for a 0.4% rise.
3. Core capital goods dropped 0.4% m/o/m, vs expectations of a 0.5% increase.
4. Initial jobless claims rose to 313k, up from 292k and more than the 288k expected.
5. Pending home sales fell 1.1% m/o/m, well below the 0.5% expected fain.

Thanks, Batman

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