Succinctly summarizing the positive and negative news, data, and market events of the week...
Positives
- Yahoo acquires Tumblr for $1.1 billion [5], stock now down 3%
- Goldman hikes S&P PT to 1750 [6] by year end
- Foreign banks have plenty of cash [7] (thanks to the Fed)
- HLF makes it difficult for shorts [8]
- Tuesday makes it 19-19 [9] for the DOW
- Market reacts [10] to Bernanke publically refuting tapering nonsense
- BOJ will be adding ETF’s to their portfolio, states economy has picked up (despite a few minor details [11])
- Weekly initial claims [12] in-line with expectations
- Average new home prices soar, unfortunately real income does not [13]
- Ultimate liquidity provider: The Fed has purchased 30% of all outstanding 10yr equivalents [14]
- Durable Goods Orders beat expectations – but the trend is not your friend [15]
Negatives
- Apple meets the “Fairness Doctorine [16]”, as offshore cash gets scrutinized (incidentally, as ZH reported on in detail last year [17])
- Despite the jacked up S&P price target, Goldman’s leading indicators speed toward contraction [18]
- Target misses Q1 significantly [19], YoY Revenue down $199MM, YoY EPS down $.27 [20]
- What bubble [21]?
- Fed finally admits asset bubble [22] is present, and as we’ve stated on numerous occasions, it’s the flow not stock that matters
- BOJ’s experiment helps unsettle global markets [23], however, they have asked everyone not to panic [24]
- Chinese economy enters contraction [25] – don’t sweat it
- Hedge Funds have started to reduce long Nikkei positions [26]
- Student loan delinquency continues to climb [27]
- Architectural Billings plunge most in 5 years [28]
Additional
- Cohen’s SAC considers closing [29]
- Mark Grant truthiness: A reversal will come [30]
- Oklahoma endures devastating Tornado [31]
- ***Europe opens $80 trillion shadow banking Pandora’s box [32]
(h/t @ZH_Crown)