This seems to sum the week up...
An ugly week for stocks despite the best ramping efforts...
Financials were the week's biggest losers... worst week in 2 months
Plenty more to come...
Facebook had a tough time as FANG stocks suffered their worst week in 2 months (-2.2%)...breaking an 8-week winning streak
TSLA ripped on 100% cancellabe pre-orders for a flying unicorn due sometime soon.
As Digiday reported, some publishers saw their Facebook traffic nosedive last month, even as Facebook pushes initiatives designed to get users to stay in its app. A traffic analytics company, speaking anonymously to avoid getting on Facebook’s bad side, said Facebook traffic across clients, representing some of the biggest publishers, declined about 20 percent from January to March. The data showed the biggest drops came from publishers that have been heavily invested in Instant Articles, the fast-loading mobile initiative.
Sine the "great" payrolls data, stocks are in the red.. and WTI Crude is epically bid...
Treasury yields tumbled - making it a positive return week for bonds for the 3rd week of the last 4...
The USD Index ended the week modestly lower (5th down week of the last 6) as AUD weakness offset JPY strength...
USDJPY suffered its 2nd worst week in 3 years, erasing all the post-QE3, post-QQE2 gains (JPY devaluation)...
Gold & Silver had their best week in a month as crude soared rather idiotically today to a yuuge win for the week (and copper remained mired in the reality of un-growthiness)...
Oil algos jumped on every twitch of a headline and turn of a datapoint today no matter what it said - clearly their only goal was to close above the 100-day moving average...
Oil and Stocks decoupled again... inverting last week's decoupling...
So what happens next?
Charts: Bloomberg