Morning Journal - The Philly Fed ADS Business Conditions Index - All American Investor

This Week’s Data

The International Council of Shopping Centers reported weekly sales to major retailers down 1.7% versus the prior week but up 3.8% versus the comparable period last year; Redbook Research reported month to date retail chain store sales up 2.7% on a year over year basis.

April existing home sales rose 3.4% versus expectations of an increase of 2.6%.
http://scottgrannis.blogspot.com/2012/05/more-signs-of-housing-upturn.html
http://www.ritholtz.com/blog/2012/05/existing-home-sales-without-forclosures-prices-pop-10-1/

The May Richmond Fed manufacturing index came in at 4.0 versus estimates of 11.0 and April’s reading of 14.0.

Weekly mortgage applications rose 3.8% but purchase applications once again fell (-3.0%).

The Philly Fed ADS business conditions Index (short):
http://advisorperspectives.com/dshort/updates/Philly-Fed-ADS-Index.php

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