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Wow October already – where did it go? Thanks again for your weekly commentaries and daily updates 🙂
NFP at the end of the week will become the obsession come Wednesday. No doubt a multitude news distraction though with Kurds, Catalans, Shooting, PR and whatever next.
^^^^ +3 … Thank you to our EDITOR & CHIEF for an informative look at week ahead … so far this morning markets continue upward into record territory
Appears nothing will change the FOMO on this one Catalonia, Vegas, PR etc etc – will do some numbers on 5 and extensions
Aug Construction Spending: +0.5% M/M to $1,218.3B, vs. +0.4% expected, -1.2% (revised) prior.
Private construction spend: $954.8B
Public construction spend: $263.5B.ISM Manufacturing Index: 60.8 vs. 58.0 consensus and 58.8 prior.
Employment 60.3 vs. 590..9 prior.
Prices 71.5.0 vs. 62.0
New Orders 64.6 vs. 60.3
Production 62.2 vs. 61.0US PMI Manufacturing Index 53.1 vs. 53.0 consensus, 52.8 prior.
Trump plans to make Fed chair decision in coming 2-3 weeks
Atlanta Fed tracker Q3 GDP growth of 2.7%, up from 2.3% last week
Microsoft $MSFT plans to shutter its Groove Music Pass streaming service and remove the ability to purchase music through the Windows Store.
Microsoft partnered with Spotify to help move Groove Music Pass customers over to Spotify . The Groove Music app will lose streaming and purchase features on December 31 but users will have until January 31 to complete the transition to Spotify.
At the close
Dow +0.68% to 22,557.94. S&P +0.39% to 2,529.52. Nasdaq +0.32% to 6,516.56.
Treasurys: 30-year -0.12%. 10-yr 0%. 5-yr +0.01%.
Commodities: Crude -2.21% to $50.53. Gold -0.82% to $1,274.26.
Currencies: Euro -0.7% vs. dollar. Yen +0.2%. Pound +0.92%.General Electric $GE says Jeffrey Immelt is stepping down as chairman immediately, succeeded by CEO John Flannery.
DJIA biggest risers:
Intel Corp (+2.52%),
DowDuPont (+1.72%),
GE (+1.61%),
Goldman Sachs (+1.61%)
JPMorgan (+1.39%)US ISM New York Biz. Conditions Index Sep: 49.7 (prev 56.6)
motor vehicle sales SA 16.23M units last month from 16.14M in AugustU.S. Auto Sales
General Motors unit sales +11.9% to 279,397
Toyota unit sales +14.9% to 226,632
Ford unit sales +8.7% to 222,248Fiat Chrysler Automobiles unit sales -10% to 174,266
Honda unit sales +6.8% to 142,722
Nissan unit sales +9.5% to 139,932Hyundai unit sales -14% to 57,007
Subaru unit sales +0.4% to 55,120
Kia Motors unit sales +6.6% to 52,468Mercedes-Benz unit sales -2.2% to 32,337
Volkswagen unit sales +33% to 32,112
BMW unit sales -0.4% to 29,307
Mazda unit sales +3.4% Y/Y to 25,738Porsche unit sales +13% to 5,059
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