Weekly Round Up 6-28
Good:
1. U.S. Fed said they may taper before end of year and raise unemployment threshold to 7%, from their initial target of 6.5%. Read here
2. June Empire Manufacturing Index rose to 7.84 in June easily beating the Street’s estimate for unchanged and May’s reading of -1.43. Read here
3. Fed raised their 2014 GDP growth estimate between 3.0% and 3.5% in 2014 and 2.9% to 3.6% in 2015 Read here
4. Home Builder Confidence Soared To a 7-year High. Read here
5. Existing home sale rose +4.2% in May to an annual rate of 5.18 million units, rising to its highest level in 3-1/2 years, according to the National Association of Realtors Read here
6. Factory activity in the mid-Atlantic region rose to 12.5 in June which topped the Street’s estimate for -2 and easily beat May’s reading of -5.2.
Bad:
1. Stocks break support on heavy volume (50 DMA line, 6-Month Upward Trendline, and April’s high)
2. U.S. Fed said they may taper before end of year and raise unemployment threshold to 7%, from their initial target of 6.5%. Read here
3. Interest Rates Soar
4. Housing starts rose 6.8% in May to a seasonally adjusted annual rate of 914k which missed the Street’s estimate for a gain of 950k. Read here
5. The consumer price index rose 0.1% in May which barely missed the Street’s estimate for a 0.2% gain. Read here
6. China’s factory sector fell to a 9-month low Read here
7. Weekly jobless claims rose 18k to 354k which was higher than the Street’s estimate for 340k. Read here
8. Greece’s government falls apart- Again Read here
