US Data:
- S&P500 -0.04% (1,805.09)
- NASDAQ +0.06% (4,062.52)
- DJIA -0.41% (16,020.20)
This week’s reports:
- Q3 2013 GDP Growth Annualized (prelim.) was 3.6%, its strongest since Q1 2012, from Q2’s 2.5%. Growth was led by the biggest buildup in inventories since early 1998, as companies are expecting increase in demand.
- Q3 2013 Personal Consumption Expenditures (prelim.) rose 2.0% q/q from Q2’s -0.1% q/q. Core Q3 2013 Personal Consumption Expenditures (prelim.) rose 1.5% q/q from Q2’s 0.6% q/q.
- November’s Unemployment Rate fell to 7.0%, a five-year low, from October’s 7.3%. Non-Farm Payrolls increased by 203K, their biggest gain in three months, from a revised 200K advance in October.
- November’s Average Weekly Hours rose to 34.5 from October’s 34.4. Average Hourly Earnings rose 0.2% from October’s +0.1%.
- October’s Personal Spending rose 0.3% from September’s +0.2%. Personal Income fell 0.1% from September’s +0.5%.
- October’s Consumer Credit rose by $18.19 billion, its biggest increase in five months, from September’s +$16.29 billion. Both revolving and non-revolving debt advanced, as job gains, income growth and rising household wealth gave Americans the confidence to borrow.
- December’s Reuters/Michigan Consumer Sentiment Index (prelim.) jumped to 82.5 from November’s 75.1.
- November’s Markit Manufacturing PMI rose to 54.7 from October’s 51.8.
- November’s ISM Manufacturing rose to 57.3 from October’s 56.4. ISM Services fell to 53.9 from October’s 55.4.
- October’s Construction Spending jumped 0.8% from September’s -0.3%.
- October’s New Home Sales surged 25.4% to an annual pace of 444K from September’s pace of 354K.
- Initial Jobless Claims for the week ending November 29th fell by 23K to 298K.
- Continuing Jobless Claims for the week ending November 22nd fell by 21K to 2,744K.
US stocks rose at the end of the week, halting a five-day slide, as investors weighed better than forecast jobs growth to gauge the strength of the economy and timing of Federal Reserve stimulus cuts. Still, the S&P500 finished the week with its first weekly decline in two months on concern that an improving economy will cause the Fed to reduce monetary stimulus sooner than projected.
To Read the Entire Report Please Click on the pdf File Below.