“U.S. industrial output extended its months long tumble into April, providing the latest evidence of the economy struggling to rebound after stalling out in the early months of the year. Industrial production, which measures the output of U.S. manufacturers, utilities and mines, decreased a seasonally adjusted 0.3% from the prior month…” Story at…
http://www.wsj.com/articles/u-s-industrial-production-falls-for-fifth-straight-month-1431695720
MICHIGAN SENTIMENT (Bloomberg)
The University of Michigan’s preliminary sentiment index for May plunged to 88.6, the lowest since October, from 95.9 the prior month…’It’s not very encouraging for growth prospects,” said Millan Mulraine, deputy head of U.S. research & strategy at TD Securities USA in New York, who projected a drop in confidence.’” Story at…
http://www.bloomberg.com/news/articles/2015-05-15/consumer-sentiment-in-u-s-plunged-in-may-by-most-in-two-years
WHY THE MARKET IS IMPPROVING (CNBC)
“The reason the market is doing well…comes down to the "four or five S's," independent investment consultant David Darst [former chief investment strategist at Morgan Stanley Wealth Management] said Thursday [on CNBC]. "China continues to stimulate, Greece is squaring up its debts, Europe is strengthening, OK, and house prices are stabilizing. You could also say the dollar is slipping…"
http://www.cnbc.com/id/102680686
MARKET UPDATE
I don’t have time to do a full update today. Perhaps I’ll get to it later this weekend.
As of around 3PM, Internals remained positive and that is good. 54% of stocks on the NYSE were going up (advancing) and that is a positive sign, especially if it holds into the close.
You can check that number here. Just scroll to Advancers and Decliners.
http://finance.yahoo.com/stock-center/
Next week is important to see if the stock markets can
break higher. If not, it just raises the
possibility of a correction since the Indices haven’t gone up much since
December; however, as long as the Internals remain positive, I am
positive. My guess is that the Index
will move up over the next few months and then correct in late summer or
fall.
