Succinct Summations of Week’s Events for 6.24.16

Succinct Summations for the week ending June 24th 2016

Positives:

1.Despite the plunge on Friday, U.K. stocks had their best week since early February.
2. Consumer sentiment in the U.S. remains strong, coming in at 93.5.
3. PMI manufacturing index came in at 51.4, up from 50.5 previously and better than the 51 expected.
4. Initial jobless claims fell to 259k, down from 277k previously.

Negatives:

1. They Brexited, the pound fell to its lowest level since 1985.
2. S&P 500 fell 3% for the first time since August 2015.
3. Durable goods orders fell 2.2%, well below the 0.7% expected decrease.
4. New home sales came in at an SAAR of 551k, below the 565k expected.
5. Chicago Fed index fell to -0.51, down from 0.10 previously.

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