(Very) succinct summations for week ending April 24th:
1. The S&P 500 made a new all-time high.
2. Mortgage applications rose 5% w/o/w.
3. The NASDAQ Composite closed at its highest level in fifteen years.
4. Initial jobless claims came in at 295k, the seventh week below 300k.
5. Durable goods increased 4%, vs expectations for a 0.9% gain.
1. Core Durable goods fell 0.5% m/o/m vs the 0.3% gain expected.
2. New home sales came in at 481k, 34k less than expected.
3. Markit’s Manufacturing PMI fell to 54.2, down from 55.7 in March
4. China’s HSBC manufacturing index fell to 49.2, a one-year low.