Notes from the Research Desk

Stocks climbed modestly higher for the week, snapping a streak of two consecutive weekly losses. Broad equities got off to a strong start to the week with investors adding to the post-jobs report equity bounce. However, the positive sentiment quickly faded as retailers reported disappointing quarterly results and economic indicators came in mixed at best.

The next several weeks will see the remaining companies report earnings for Q1 2016. So far company’s are reporting a solid beat with 75% beating Q1 2015 and a +5% surprise factor.

Brexit is the headline of the week, and will be for the next 6 weeks until British citizens cast their votes. UK odds makers say there is a 70% chance that Britain stays in the EU. Keep an eye on it, though, as a "Leave" vote would be a disruptor to the UK economy.

The NBA dream match up between LeBron James and his old team, the Miami Heat, died on the floor last night. Toronto looked dominant in the elimination game against the Heat and will face the Cavs in the Eastern Finals. It doesn't have nearly the same intrigue, but should be a fun series. In the West, the Warriors face the OKC Thunder in what should be a high scoring and entertaining showdown. Kings and Ducks out of the Stanley Cup Playoffs. Fans in LA get to watch from the periphery while persevering through the summer slog also known as the MLB season. Counting down the months to football. . .