US
S&P500 +1.56% (1,798.18); NASDAQ +1.70% (3,985.97); DJIA +1.27% (15,961.70)
This week’s reports:
Q3 2013 Non-farm Productivity (prelim.) rose 1.9% from Q2’s +1.8%. Unit Labor Costs (prelim.) fell 0.6% from Q2’s +0.5%.
November’s NY Empire State Manufacturing Index fell to -2.21 from October’s 1.52.
October’s Industrial Production fell 0.1% from September’s +0.7%. Manufacturing Production rose 0.3% from September’s +0.1%.
Capacity Utilization fell to 78.1% fromSeptember’s 78.3%.
September’s Chicago Fed National Activity Index rose to 0.14 from August’s 0.13.
September’s Wholesale Inventories rose 0.4% from August’s +0.8%.
Initial Jobless Claims for the week ending November 9th fell by 2K to 339K.
Continuing Jobless Claims for the week ending November 1st were unchanged at 2,874K.
US stocks rose to records, with benchmark gauges capping a sixth week of gains, as investors assessed data on factory output amid growing speculation the Federal Reserve will maintain the pace of its monthly stimulus. The S&P 500 has rallied 26% so far in 2013, poised for its best annual gain in a decade.
The S&P 500 and the Dow rallied as Yellen, nominated to succeed Ben S. Bernanke as chairman of the Federal Reserve starting January 2014, said at her Senate confirmation hearing that the central bank should take care not to withdraw stimulus too early from an economy that is operating well below potential.
Equities worldwide also rose as China’s ruling party announced changes to economic policy, which will include allowing more private investment in the state sector.
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