US stocks finished the week higher after falling mid week. Yields of both US and German government bonds spiked mid week but US Bonds ended largely unchanged. Foreign stocks were mixed. The economic data showed weaker than expected retail sales and industrial production but better than expected first time claims for unemployment while producer prices fell for the fifth month in a row.
In particular this week:
- The Commerce Department reported that Retail sales were unchanged in April worse than the expected 0.3% increase.
- The Labor Department reported that
- Producer prices fell 0.4% in April. Core prices, excluding volatile food and energy prices fell 0.2%. Excluding food, energy and trade services producer prices fell 0.1%. Expectations were for a 0.1% increase.
- Import prices fell 0.3% in April versus expectations of a 0.3% increase.
- First time jobless claims decreased by 1,000 to 264,000 in the prior week much better than the 273,000 expected. The four week moving average of claims fell 7,750 to 271,750 the lowest since April 2000.