S&P500 +0.86%(2,810.30); NASDAQ +1.04% (7,336.38); DJIA +1.04% (26,071.72)
This week’s reports:
- January’s Michigan Consumer Sentiment Index (prelim.) fell to 94.4 from December’s 95.9.
- January’s Empire State Manufacturing Index fell to 17.7 from December’s 19.6.
- December’s Industrial Production rose 0.9% from November’s -0.1%. Capacity Utilization rose to 77.9% from November’s 77.2%.
- January’s Philadelphia Fed Manufacturing Index fell to 22.2 from December’s 27.9.
- December’s Housing Starts fell by 8.2% from November’s +3.3%. Building Permits fell by 0.1% from November’s -1.0%.
- Initial Jobless Claims for the week ending January 12th fell by 41K to 220K. Continuing Jobless Claims for the week ending January 5th rose by 76K to 1,952K.
- US stocks rose to all-time highs following a report that regulators are close to further easing banking rules. Share market was also lifted by reports that the tax reform will boost earnings this year. Bank of America beat profit estimates and indicated that it could benefit from the US tax overhaul by reducing pressure to cut future costs; Apple said that under the rules of the new tax plan it will bring hundreds of billions of dollars back to the US from overseas to invest in jobs and facilities.