US
S&P500 +2.42% (1,744.50); NASDAQ +3.23% (3,914.28); DJIA +1.07% (15,399.65) This week’s reports:
October’s NY Empire State Manufacturing Index fell to 1.52 from September’s 6.29.
October’s Philadelphia Fed Manufacturing Index declined to 19.8 from September’s reading of 22.3.
October’s NAHB Housing Market Index fell to 55 from September’s 57.
Initial Jobless Claims for the week ending October 11th fell by 15K to 358K. Continuing Jobless Claims for the week ending October 4th fell by 43K to 2,859K.
US stocks rallied, sending the Standard & Poor’s 500 Index to a record as Congress reached a deal to end the budget standoff and avert the threat of a default. President Barack Obama signed a bill to fund the government through Jan. 15 and extend the borrowing authority through Feb. 7. Equities also rose on the final day of the week as a report showed China’s gross domestic product expanded at a faster rate.
The S&P 500 extended gains on speculation the economic effects of the stalemate will prompt the Fed to delay reducing its monetary stimulus until March 2014. Economists estimate that the 16-day budget impasse in Washington reduced growth by 0.3% this quarter.
Canada
S&P/TSX Composite +1.89% (13,136.09)
Canadian stocks rose to a two-year high, as Royal Bank of Canada soared to a record close and energy producers surged on accelerating economic growth in China.
September’s CPI rose 0.2% m/m from August, when it was flat. Annualized inflation was unchanged from August’s +1.1%. Core CPI was 1.3% y/y, unchanged from August’s reading.
August’s Manufacturing Shipments fell 0.2% from July’s +1.7%.
To Read the Entire Report Please Click on the pdf File Below.
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US Stocks Rall
Published 10/21/2013, 01:01 AM
Updated 12/31/2017, 04:40 AM
US Stocks Rall
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