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[color=teal][size=5][b]^^^ +3s … THANK YOU to our editor & chief
for all the insightful info to start the new trading week :lol:[/b][/size][/color]
[color=green][b]A3 and TWO O’CLOCK club just spiked the INDEXES back to super GREEN
after a twee bit of PROFIT TAKING … at 3pm ESTDow Jones 25,297.04 +1.17 (0.00%)
S&P 500 2,747.31 +4.16 (0.15%)
Nasdaq 7,154.27 +17.71 (0.25%)[/b][/color]November Consumer Credit increases $28.0B (M/M) vs. $18.0B consensus and $20.5B prior (revised).
Dec. TD Ameritrade IMX: 8.59 vs. 8.53 in Nov.
The IMX reached an all-time high for the second month in a row, increasing 0.70%Merry Trumpmis
Consumer borrowing rose in November by the largest monthly amount in 16 years, according to the Federal Reserve on Monday. Total consumer credit increased a solid $28 billion in November to a record seasonally adjusted $3.83 trillion, posting an annual growth rate of 8.8%. Economists had been expecting an $18 billion increase
What happened: Credit-card borrowing powered the increase. Revolving credit, which is mostly made up of credit-card loans, accelerated to an annual rate of 13.3% in November, the fastest pace since last December and well above the 9.9% gain in October. Non-revolving credit, which covers loans for education and cars, rose at an annual rate of 7.2% in November, the fastest pace since October 2016 and above the 5.3% rate in October. The data excludes mortgage debt.
Big picture: This is the third straight solid monthly gain in consumer borrowing. Economists said holiday-related consumer spending was strong to the end of November, providing a boost for credit card borrowing. Consumers now seem less reluctant to take on debt, which analysts view as a sign of strengthening consumer confidence.
At the close
Dow -0.07% to 25,278.37. S&P +0.16% to 2,747.02. Nasdaq +0.29% to 7,157.39.
Treasurys: 30-year 0%. 10-yr 0%. 5-yr +0.02%.
Commodities: Crude +0.72% to $61.88. Gold -0.11% to $1,320.90.
Currencies: Euro -0.52% vs. dollar. Yen +0.01%. Pound +0.03%.Euro zone unemployment fell to a fresh nine-year low in November at 8.7% at 14.263M, lowest since January 2009 based on a strongest economic growth of 2.5% Y/Y in a decade.
Germany has an unemployment rate of 3.6 percent while Greece’s was at 20.5 percent in September, Spain’s was at 16.7 percent in November and Italy’s was 11.0 percent.
Even greater differences were seen in youth unemployment numbers, Germany leading with 6.6 percent and Greece having the highest number at 39.5 percent, followed by Spain at 37.9 percent and Italy at 32.7 percent.
Mexican inflation rose to 6.77% in 2017, highest annual inflation rate since May 2001 led by the liberalization of gasoline prices at the start of last year.
December consumer prices rose 0.59%, CPI rose 0.42% during the month
Mexico’s central bank expects the rate to slow in January and targets inflation at 3%.
“We need to double the capital requirement of the biggest dozen banks in America,” says former TARP Czar and now Minneapolis Fed President Neel Kashkari.
Federal energy regulators have rejected Rick Perry’s power grid proposal, which would have subsidized some coal and nuclear power plants.
According to the FERC, the plan failed to show that current electricity markets are not just or reasonable, or may be a threat to grid resilience.
The rejection is a major victory for natural gas, wind, solar and other industries that compete with coal and nuclear.At the close
Dow +0.42% to 25,390.62. S&P +0.14% to 2,751.32. Nasdaq +0.09% to 7,163.21.
Treasurys: 30-year -1.07%. 10-yr -0.37%. 5-yr -0.15%.
Commodities: Crude +1.93% to $62.92. Gold -0.43% to $1,314.70.
Currencies: Euro -0.28% vs. dollar. Yen -0.44%. Pound +0.23%.
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