The Good and Bad News of Last Week

The Good:
1) ECB chief Mario Draghi says willing to do whatever it takes and assures that it will be enough for saving the Euro.
2) Initial Jobless Claim declined 35,000 to 353,000.
3)Durable goods orders were up 1.6%
4) Earning reports have continued to beat expectations (except internet companies)
5) Zillow’s home value index rose 0.2% compared with 2011 Q2
6) Michigan Sentiment for July was slightly increased to 72.3

The Bad:
1) 2012 Q2 GDP report, 1.5% annualized growth, continuing a weakening and sluggish pattern, although beating estimate. It is still a bad news.

Generally, I am bullish to the market now. In the future, I will provide more on the bad size.

Earning Reports this week: 
Facebook’s revenue growth shrank for at least the fifth consecutive quarter.
ZNGA down 37% as revenue growth slows and reported net loss, bringing questions on the sustainability of its business model.
Amazon reported a 97% drop in 2Q profit to $7 million although revenue rose 30%.