Tops News- Southwest Airlines cuts revenue forecast
- Oil prices bounce back as investors hope U.S. inventory data will point to stronger summer fuel demand
- YouTube dominates streaming, forcing media companies to decide whether it's friend or foe
- FedEx shares jump after hours as massive cost-cutting measures kick in
- Your 401(k) is up, and a new report shows increased savings. But Americans need to do more
- Rivian investment a ‘catch-up move’ for Volkswagen that could take years to pay off, advisory firm says
- Masimo activist Politan presents 'last chance' for shareholders to force change at med-tech company
- WikiLeaks founder Julian Assange lands in Australia after U.S. plea deal
- Italy's Meloni rattled as European Union negotiators agree deal for bloc's top jobs
- Both mortgage rates and weekly mortgage demand are stuck in place, suggesting a slow summer housing market
- Economic Calendar & News
- UK retail sales go into reverse this month, CBI survey shows
- Australia inflation jumps to 6-mth high in May, ramps up rate hike risks
- German consumer sentiment unexpectedly dips in July, finds GfK
- Australia CPI up more than expected in May at 4%, RBA jitters mount
- US business equipment borrowings up 11% in May, ELFA says
- US consumer confidence retreats slightly; house prices remain elevated
- Canada inflation surprisingly rises in May, markets trim July rate cut bets
- US house prices increase steadily in April -FHFA
- Australia consumers balance budget relief against rate risks
- Japan's business-to-business service inflation hits 2.5% in May
- Economy
- Trade feuds aside, Chinese firms are committed to the U.S. market, survey shows
- Fed Governor Bowman says she's still open to raising rates if inflation doesn't improve
- IMF chief says Europe looks like 'an ideas supermarket' for the U.S., calls for further integration
- Bank of England keeps rates at 5.25% in 'finely balanced' decision; traders lift bets for August cut
- Switzerland makes second interest rate cut as major economies diverge on monetary policy easing
- These groups help people of color and the LGBTQ+ community find a ‘radically inclusive space’ in the outdoors
- UK inflation falls to Bank of England's 2% target ahead of elections
- The Fed is 'playing with fire' by not cutting rates, says creator of 'Sahm Rule' recession indicator
- May retail sales rise 0.1%, weaker than expected
- Bank of Japan set to reduce JGB purchases, stands pat on interest rate
AMJourney 
Market Commentary – August 12, 2016
U.S. stock markets finished the week slightly higher but dropped below on Friday from another record high on Thursday after disappointing economic data on July retail sales.
The Dow Jones industrial average was down 37 points (-0.2%) to settle at 18,576.47, with IBM contributing most losses. Both the S&P 500 and Nasdaq Composite were flat to close at 2,184.05 and 5,232.89, respectively.
The U.S. retail sales released by the Commerce Department on Friday came in flat against an expected 0.5% increase, indicating a potential hurdle for economic growth in the second half of 2016.
On Thursday, WTI moved higher after a bullish IEA report and an informal gathering of OPEC members in September outweighed yet another extremely weak round of DOE stats and accelerating output gains from Iran, Iraq and Saudi Arabia. For the week, the crude was up 6.8%.
Economic calendar highlights for next week (Aug 15 – 21): Core Consumer Price Index (Aug. 16th), Crude Inventory and Federal Open Market Committee Minutes (Aug. 17th), and Initial Jobless Claims and Natural Gas Inventories (Aug. 18th).
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A small potato working on Bay Street