Dow down 77, decliners over advancers 2-1 & NAZ fell 28. The MLP index was off 2+ to the 461s while the REIT index was little changed in the 265s. Junk bond funds were mixed as they have been for months & Treasuries gained. Oil
decreased to the lowest level in more than 2 weeks as an
improving US economy added to speculation that the Federal
Reserve will further curb stimulus. Gold jumped the most in 3
weeks on speculation that demand for bars & jewelry will
increase in Asia.
AMJ (Alerian MLP Index tracking fund)
The Institute for Supply Management factory index fell to 57 in Dec from the prior month’s 57.3, which was the highest since Apr 2011. Readings above 50 indicate expansion. The forecast called for 56.8, with estimates ranging from 55.3-58. Manufacturing accounts for about 12% of the economy. Manufacturing across the globe showed signs of uneven growth in Dec. In the euro area, an index of factory activity climbed to 52.7 from a Nov reading of 51.6, Markit Economics said. Manufacturing in Germany increased, while a gauge of factories in France dropped to a 7 month low. An index of UK manufacturing cooled as export demand weakened and readings in China slipped.
U.S. ISM Manufacturing Index Fell to 57 in December From 57.3
Photo: Bloomberg
Applications for unemployment benefits in the US declined last week to the lowest level in a month as the volatility during the year-end holidays waned. Jobless claims fell 2K to 339K, according to Labor Dept. The forecast called for 344K claims. Layoffs could be limited this year as gains in business may consumer spending help the economy strengthen. Further healing in the labor market may depend on progress in the federal budget negotiations this month. The 4 week average of claims increased to 357K from 348K in the prior week. The number continuing to receive jobless benefits dropped 98K to 2.83M. The continuing claims figure does not include those receiving extended benefits under federal programs. That total rose 58K to 1.39M in the latest week. But extended benefits lapsed Dec 28 & Senate Dems have pledged to consider a measure to reinstate the aid next week as the politicos return to DC.
It looks like the bulls are taking the week off to celebrate the new year as volume is only routine. Data on auto sales & employment statistics will be released shortly. Meanwhile traders enjoy looking at their year-end balance sheets.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
Treasury yields:
U.S. 3-month |
0.06% | |
U.S. 2-year |
0.38% | |
U.S. 10-year |
2.99% |
| CLG14.NYM | ...Crude Oil Feb 14 | ...96.71 |  ....1.71 | (1.7%) |
| GCF14.CMX | ...Gold Jan 14 | ......1,224.40 | ...22.50 | (1.9%) |
The Institute for Supply Management factory index fell to 57 in Dec from the prior month’s 57.3, which was the highest since Apr 2011. Readings above 50 indicate expansion. The forecast called for 56.8, with estimates ranging from 55.3-58. Manufacturing accounts for about 12% of the economy. Manufacturing across the globe showed signs of uneven growth in Dec. In the euro area, an index of factory activity climbed to 52.7 from a Nov reading of 51.6, Markit Economics said. Manufacturing in Germany increased, while a gauge of factories in France dropped to a 7 month low. An index of UK manufacturing cooled as export demand weakened and readings in China slipped.
U.S. ISM Manufacturing Index Fell to 57 in December From 57.3
Applications for unemployment benefits in the US declined last week to the lowest level in a month as the volatility during the year-end holidays waned. Jobless claims fell 2K to 339K, according to Labor Dept. The forecast called for 344K claims. Layoffs could be limited this year as gains in business may consumer spending help the economy strengthen. Further healing in the labor market may depend on progress in the federal budget negotiations this month. The 4 week average of claims increased to 357K from 348K in the prior week. The number continuing to receive jobless benefits dropped 98K to 2.83M. The continuing claims figure does not include those receiving extended benefits under federal programs. That total rose 58K to 1.39M in the latest week. But extended benefits lapsed Dec 28 & Senate Dems have pledged to consider a measure to reinstate the aid next week as the politicos return to DC.
It looks like the bulls are taking the week off to celebrate the new year as volume is only routine. Data on auto sales & employment statistics will be released shortly. Meanwhile traders enjoy looking at their year-end balance sheets.
Dow Jones Industrials
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