Market Weekly: Jan 1 Jan 5 2018

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    At the close
    Dow +0.39% to 24,921.85. S&P +0.63% to 2,712.78. Nasdaq +0.84% to 7,065.20.
    Treasurys: 30-year +0.39%. 10-yr +0.09%. 5-yr +0.01%.
    Commodities: Crude +2.32% to $61.77. Gold -0.05% to $1,315.50.
    Currencies: Euro -0.37% vs. dollar. Yen +0.17%. Pound +0.57%.


    M&A activity declined for the second straight year in the US in 2017 to 5,326 deals valuing $1.26T compared to 5,325 deals valuing $1.5T in 2016.
    US share of the global M&A was the lowest since 2012 at 40.2% down from 45.5% last year.
    Potential market correction and unwinding of central bank balance sheets may keep the M&A activity contracting for the next 12 months.


    November Construction Spending: +0.8% M/M vs. +0.6% consensus, +0.9% prior (revised).
    Construction spending rose 2.4% Y/Y.
    Public construction grew 0.2% during the month, while private construction up 1%.

    ISM Manufacturing Index: 59.7 vs. 58.1 consensus and 58.2 prior.
    Employment 57.0 vs. 59.7 prior.
    Prices 69.0 vs. 65.5
    New Orders 69.4 vs. 64.0
    Production 65.8 vs. 63.9

    Redbook Chain Store Sales: +5.0% Y/Y vs. +5.7% last week.
    Month-to-date chain store sales +4.3% Y/Y.

    MBA Mortgage Applications
    Composite Index: -2.8% vs. -4.9% last week.
    Purchase Index: +1.0% vs. -6.0%.
    Refinance Index: -7.0% vs. -3.0%
    30 year mortgage rate at 4.25% vs. 4.16%.


    [color=teal][size=6][b]SUPER GREEN FINISH
    Economy is SOARING
    despite surge of POLAR VORTEXES[/b][/size][/color] 😉 :whistle: :whistle: :whistle: :whistle:


    [color=teal][size=5][b]STORM UPDATE — both WALL ST & NASDAQ trading centers in NYC will get hammered today 😳
    But in miracle age of computers, trading should not be impacted 8)
    Our NJ home office is getting hammered big time :ohmy:
    Also folks are gonna be hurting on ELECTRIC & FUEL bills :woohoo:
    As there are economic ramifications for the BLIZZARD of ’18 :ohmy:




    I was calling for 4 rate hikes from the Fed this year
    probably should knock one off due to the winter


    EIA Petroleum Inventories: Crude -7.4M barrels vs. -5.1M consensus, -4.6M last week.
    Gasoline +4.8M barrels vs. +2.2M consensus, +0.6M last week.
    Distillates +8.9M barrels vs. +0.5M consensus, +1.1M last week.

    Initial Jobless Claims +3K at 250K vs. 240K consensus, 247K prior (revised).
    Continuous Claims: -37K at 1.914M vs. 1.951M.

    Dec. ADP Jobs Report: +250K vs. 188K consensus, 190K prior.
    Challenger Job-Cut Report: 32,423 from 35,038 in November.

    Bloomberg Consumer Comfort Index fell to 51.8 from 52.4 last week.
    State of the Economy index dipped to 53.6 from 54.1.
    Personal Finance index declined to 59.4 from 59.6.
    Buying Climate index dropped to 42.5 from 43.3.


    Trump administration is moving to “sharply” expand offshore drilling, the AP reports.

    That move includes the Pacific Ocean for the first time in decades, according to the report.

    Most U.S. coastal waters would be open to exploration in the new approach.
    Updated: The Interior Dept. is set to announce the new five-year plan today, which would also include opening new exploration areas from Georgia to Maine (along with a return after three decades to California coastal waters). That’s access to more than 1M new acres.


    At the close
    Dow +0.60% to 25,073.49. S&P +0.40% to 2,723.52. Nasdaq +0.18% to 7,077.43.
    Treasurys: 30-year +0.04%. 10-yr -0.09%. 5-yr -0.09%.
    Commodities: Crude +0.45% to $61.91. Gold +0.39% to $1,323.70.
    Currencies: Euro +0.43% vs. dollar. Yen +0.19%. Pound -0.27%.


    SUPER GREEN for all indexes


    and sharing prayers of safety for those in path of this ARCTIC HURRICANE as it has been rough in SW VA


    December Nonfarm Payrolls: +148K vs. consensus +190K, +252K previous (revised from 228K).
    Unemployment rate: 4.1% vs. 4.1% consensus, 4.1% previous.
    Employment Report Gives Fed and Markets Little Concern

    November Factory Orders: +1.3% vs. +1.1% consensus and +0.4% prior (revised).

    Dec. ISM Non-Manufacturing Index: 55.9 vs. 57.6 consensus, 57.4 prior.
    Business activity 57.3% vs 61.4.
    New Orders 54.3% vs 58.7%.
    Employment 56.3% vs 55.3%

    November International trade: -$50.5B vs. -$50.0B expected and -$48.9B prior (revised).
    Imports: $250.7B
    Exports: $200.2B


    NY Fed GDP Nowcast Q1: 3.4% (prev 3.2%)
    -GDP Nowcast Q4: 3.97% (prev 3.9)

    US Atlanta Fed GDPNow Q4: 2.7% (prev 3.2%)


    Canadian jobs gained in December of 79,000 of which 55,000 are part time work, self-employed workers and public sector (government) employment rose a total of 50,000.

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