Fundamentals 7/22

There are no releases of economic fundamentals today. Data this week was mixed. Wall Street seems fixated on the budget process. The things which will determine where markets go from here are: 1) 2Q2011 advanced GDP which will be released 7/29 and 2) perception regarding any Eurozone defaults. It is worth mentioning that while there

Fundamentals 7/21: Jobless Claims, Philly Fed, Home Prices

Initial Jobless Claims -418,000 week ended July 16, the 16th week above 400k -Up 10k from previous week’s revised 408,000 -4-week moving average 421,250 -Down 2,750 from the previous week’s revised average of 424,000 -This is a chart of Initial Jobless Claims since March 2009 -See colored line showing that we got below 400,000 in