The Week That Was: July 8th - 12th 2013

Succinctly summarizing the positive and negative news, data, and market events of the week...


Positives



  1. Alcoa comes out of the gate beating Q2 estimates, here’s how

  2. Wealth creation! Consumer credit highest in two years

  3. Goldman’s David Kostin says the S&P will never decline again

  4. If you played the Stolper fade, you were not disappointed

  5. Jobs are recovering… temp jobs that is

  6. Japan wants to know core-core inflation, changes the measurement again – moar NKY gains needed

  7. Crude soars, which in the new normal, is clearly good for equities

  8. US has successful 3yr auction, securing more collateral for banks

  9. US 10yr auction sells $21 billion, yield tracks to when issued 2.7%

  10. The Fed is confused, so stawks rise to all-time highs

  11. Stocks have second best week of the year (must be good news, right?)


 


Negatives



  1. Gold forward offered rate inverts for first time since Lehman failure - lenders of bullion now want to be paid for lending

  2. S&P downgrades Italy to BBB from BBB+

  3. Barclays cuts Q2 GDP tracker to .6%

  4. Mortgage applications continue to drop – worst YoY change in 3yrs

  5. As Crude continues to climb, expect higher gas prices soon

  6. US 30yr auction has lowest bid-to-cover in nearly two years

  7. Initial jobless claims spike to 360k

  8. Those not trading ‘risk ranges’ may want to look at S&P500 EBITDA

  9. Consumer Confidence misses expectations for first time this year


 


Additional



 


(H/t @ZH_Crown)

Sign Up

Get the InvestingChannel
Free e-Letter Today

Learn More

Independent market opinion, analysis and ideas - delivered every business day

Premium market opinions, analysis, and ideas - delivered every business day

Editor's Picks