Real-Estate Advisory
Managed-Direct Ownership
The Stock-Market Bull Rallies Past One Obstacle After Another
The story of Juan José Padilla must be legend within the Spanish bullfighting community. Blinded by a bull in one eye in late 2011 after badly losing his footing in a bullring, the matador made a stunning comeback to the arena about six months later, much to the utter shock of fans. Similarly, Wall Street investors find themselves facing off with a bull of their own, one that is in its ninth year and, despite being beset by a cavalcade of concerns, appears on the verge of resuming the second-longest run since WWII. That is perhaps much to the consternation of bears and the confusion of nervous optimist alike.
DATA DECK FOR Jul 16 - Jul 20
Jul 16 Retail Sales Jun 0.5% 1.3%
Jul 16 Retail Sales ex-auto Jun 0.3% 1.4%
Jul 16 Empire Manufacturing Jul 21 25.0
Jul 16 Business Inventories May 0.4% 0.3%
Jul 17 Industrial Production Jun 0.5% -0.1%
Jul 17 Capacity Utilization Jun 78.3% 77.9%
Jul 17 NAHB Housing Market Index Jul 69 68.0
Jul 17 Net Long-Term TIC Flows May NA $93.9B
Jul 18 MBA Mortgage Applications Index 07/14 NA 2.5%
Jul 18 Housing Starts Jun 1318K 1350K
Jul 18 Building Permits Jun 1330K 1301K
Jul 18 Crude Inventories 07/14 NA -12.6B
Jul 18 Beige Book Jun NA
Jul 19 Initial Claims 07/14 220K 214K
Jul 19 Continuing Claims 07/07 NA 1739K
Jul 19 Philadelphia Fed Jul 22.0 19.9
Jul 19 Leading Indicators Jun 0.4% 0.2%
Jul 19 Natural Gas Inventories 07/14 NA +51 bcf