Weekly Re-Cap: 11/14/2011
Last week brought us a lot of shifting and power changes in Europe. We saw Lucas Papademos take the Prime Minister position of Greece and Italian Prime Minister Berlusconi resign. Italy also passed the new austerity package. These events brought a bit more stability to Europe, but we still have a long way to repair the debt issues. US Jobless claims fell to 390,000, good but we also have a long way to go. I think last week showed good events in Europe and positive trends in the US. This week we are getting reports on retail sales, PPI, CPI, business inventories, and housing starts.