Top News Headlines
Turkey and Russia spar over airspace. Russian promises retaliation for fighter shoot down.
Brussels shuts down for days in terrorist hunt.
Chicago policeman charged with murder.
Stocks little changed on the week, no follow through from last week’s rally.
Pfizer (N:PFE), Allergan (N:AGN_pa) agree to merge for tax benefits, politicians posture, threaten.
Economic News
Japan unveils new stimulus measures.
US corporate profits decline nearly 5% year over year, most since recession.
Spain economy grows 3.4% year over year, no one notices.
Durable goods orders rebound for the month but ex-transportation still down year over year.
Consumer confidence tanks as expectations fall.
Manufacturing data still weak. Flash PMI, CFNAI, Richmond Fed all less than expected.
Income up, spending up 0.1%, savings rate rises.
Chart Of The Week
Corporate profits rarely fall outside of recession as they are now. That’s not a prediction but one probably ought to factor it into one’s outlook.
Broad Market Top 10 – 3 Month Returns
MOMENTUM ASSET ALLOCATION MODEL SPDR Sector Returns – 3 Month Returns
SPDR SECTOR ROTATION MODEL Country Returns Top 10 – 3 Month Returns
Commodity Returns Top 10 – 3 Month Returns
Bond Returns Top 10 – 3 Month Returns
Stock Valuation Update
