- Friday 13th was not unlucky for Wall Street
- S&P 500 traded to an all-time record high
- The Dow closed above 18,000
- NASDAQ at almost a 15-year high
- Despite overall trend of weak corporate earnings
- Weak economic data does not dampen Wall Street’s spirits
- Central Banks are behind the surge with excess liquidity
- Wednesday – Mortgage Applications plunged 9%
- Purchases declined 7% following a 2% decline prior week
- 10% decline in Mortgage Refinances
- Jobless claims up 25,000 from prior week
- Biggest back-to-back decline in Retail Sales since October of 2009
- Consumer Confidence is down 2 weeks in a row
- Business Inventories rose by just .1% contrary to expectations
- Inventory to sales ratio highest since July 2009
- Huge drop in Consumer Sentiment
- Jobs number is a lagging indicator
- Part-time economy is a double-edged sword
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