International News (Issue 447) – May 5th, 2017
It was a busy week internationally with eyes fixed on a marginal slowing in both Chinese and U.S economic growth.
Manufacturing surveys released in both countries this week pointed to a moderate deceleration month-on-month, but in China the concerns are slightly more elevated since the slowing in China seems to be stemming from tighter policy and the resultant impact on financial system liquidity.
In corporate profit terms Apple (AAPL) were a little disappointing, at the margin, but they tempered any disappointment with an increase in their capital return program.
Facebook (FB) interestingly posted some good figures, but did their best to warn investors that the social media platform was now near saturated in terms of its ability to offer additional advertising content to users without then impacting the user experience.
It’s interesting that FB themselves are flagging investors to be realistic on the recent rapid pace of revenue growth, and we could well look back in the months ahead that this was a clear catalyst for the stock and its peers to consolidate lower after their spectacular gains.
Wednesday Closing Values
|U.S. S&P 500||2390||+1||–|
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