Succinct Summations of Weeks Events 7.24.14

Succinct Summations for the slow Summer week ending July 24th


1. Weekly jobless claims came in at 255k, the lowest reading since 1973!

2. Existing home sales rose 3.2% in June to an annualized rate of 5.49mm, the fastest pace in more than eight years.

3. Mortgage applications rose 1% w/o/w.

4. Amazon turns a profit! Shares were up double-digits.


1.Refinance applications fell 0.5% w/o/w.

2. Pending home sales came in at 482k, below the 548k expected.

3. Apple, despite growing revenue at 33% and earnings up 45%, did not meet shareholders’ expectations, finishing down nearly 4% on the week.

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