Required Reading Of The Day

Euro, Stocks Plunge as Greece Seen on Course to Default – Fox Business

Greece Shuts Down Banking System – WSJ

T. Boone Pickens: $70 Crude Oil Coming – Fox Business

China Struggles to Balance Volatile Markets – WSJ

June Jobs Report Takes the Stage Next Week – Fox Business

U.S. Treasury’s Lew Calls Greek PM Tsipras to Urge Steps to Resolve Debt Crisis – Fox Business

Good & Bad For The Week

Good:

  1. Existing home sales rose 5.1% in May to 5.35 million beating estimates for a gain of 5.26 million
  2. New home sales rose 2.2% in May and hit their highest level since February 2008. New home sales rose to 546k from an upwardly revised 534k and beat estimates for 525k
  3. The Richmond Fed Manufacturing Index came in at 6, higher than the last reading of 1
  4. Jobless claims came in at 271k, beating estimates for 273k.
  5. Consumer Sentiment rose to 96.1, beating estimates for 94.6

Bad:

  1. Q1 GDP contracted by -0.2%, matching estimates, with the Fed keeping rates at 0%
  2. Durable goods slid -1.8% in May, missing estimates for a decline of -0.5%
  3. The FHFA Housing Price Index rose 0.3%, missing estimates for a gain of 0.4%
  4. The PMI manufacturing index came in at 53.4, missing estimates for 54.2
  5. PMI Service Index fell to 54.8, missing estimates for 56.5
  6. Kansas City Manufacturing Index remained in negative territory at -9

Chart Of The Day: Chinese Stocks Flirt With Bear Market Territory

Source: http://www.wsj.com/articles/china-stocks-plunge-to-the-brink-of-a-bear-market-1435322409

Travel hell!

5 hour delay…got to hotel room in NYC at 2 am. Never got to sleep as I had to be up at 530. Was woried about the Seinfeld episode where the wake up alarm did not work. Did a fabulous 2 hours with Maria Bartiromo. Will have a lot to say about markets and Obamacare over weekend. You can watch me tomorrow at 10 am et of Fox News Channel’s Bulls and Bears. Don’t miss it.

Breaking Down the SCOTUS Obamacare Ruling

Source: http://www.bloomberg.com/news/videos/2015-06-25/what-the-obamacare-ruling-means-to-hospitals-doctors

Insurer, Hospital Performance Since Obamacare

Source: http://www.bloomberg.com/news/videos/2015-06-25/insurer-hospital-performance-since-obamacare