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Succinct Summations of Week’s Events for 6.21.19
Succinct Summations for the week ending June 21st, 2019 Positives: 1. Markets continued their rally, adding 3 percent for the week. 2. FOMC did not think the economy was soft enough to warrant a rate cut. They left the Federal funds rate target level unchanged at 2.25% – 2.50%. 3. Same store sales rose 5.4% w/o/w, higher than the previous increase of 5.0%. 4. Crude oil inventories fell 3.1M w/o/w from 485.5M to 482.4M. 5. Jobless claims fell 6k w/o/w from 222k to 216k. 6. Housing starts came in at 1.269M for May, above the expected 1.239M. Negatives: 1. Trump is politicizing what an apolitical bureaucracy. Recall ... (full story)