S&P500 +0.81%(2,316.10); NASDAQ +1.19% (5,734.13); DJIA +0.99% (20,269.37)
This week’s reports:
- December’s Consumer Credit Change rose by $14.16B from November’s $24.53B. The non-revolving credit, which covers loans for education and cars, has been the main source of credit growth in the past few years. Credit in this category increased $11.8 billion in December.
- December’s Wholesale Inventories remained unchanged from November’s 1%.
- December’s Factory Orders rose to +1.3% m/m from November’s -2.4% m/m.
- February’s Michigan Consumer Sentiment Index fell to 95.7 from January’s 98.5.
- Initial Jobless Claims for the week ending February 3th fell by 12K to 234K. Continuing Jobless Claims for the week ending January 27th rose by 15K to 2,078K.
- US equities rallied to records for a third straight week of gains as a gauge of investor sentiment on US stocks climbed to levels unseen in more than two years and investors assessed promises from President Donald Trump for tax cuts and fiscal spending.