The Week That Was: May 20th - May 24th 2013

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


  1. Yahoo acquires Tumblr for $1.1 billion, stock now down 3%
  2. Goldman hikes S&P PT to 1750 by year end
  3. Foreign banks have plenty of cash (thanks to the Fed)
  4. HLF makes it difficult for shorts
  5. Tuesday makes it 19-19 for the DOW
  6. Market reacts to Bernanke publically refuting tapering nonsense
  7. BOJ will be adding ETF’s to their portfolio, states economy has picked up (despite a few minor details)
  8. Weekly initial claims in-line with expectations
  9. Average new home prices soar, unfortunately real income does not
  10. Ultimate liquidity provider: The Fed has purchased 30% of all outstanding 10yr equivalents
  11. Durable Goods Orders beat expectations – but the trend is not your friend



  1. Apple meets the “Fairness Doctorine”, as offshore cash gets scrutinized (incidentally, as ZH reported on in detail last year)
  2. Despite the jacked up S&P price target, Goldman’s leading indicators speed toward contraction
  3.  Target misses Q1 significantly, YoY Revenue down $199MM, YoY EPS down $.27
  4.  What bubble?
  5. Fed finally admits asset bubble is present, and as we’ve stated on numerous occasions, it’s the flow not stock that matters
  6. BOJ’s experiment helps unsettle global markets, however, they have asked everyone not to panic
  7. Chinese economy enters contraction – don’t sweat it
  8. Hedge Funds have started to reduce long Nikkei positions
  9. Student loan delinquency continues to climb
  10. Architectural Billings plunge most in 5 years



(h/t @ZH_Crown)


No comments yet! Be the first to add yours.