S&P500 +0.86%(2,575.21); NASDAQ +0.35% (6,629.05); DJIA +2.00% (23,328.63)
This week’s reports:
- October’s NY Empire State Manufacturing Index rose to 30.2 from September’s 24.4.
- September’s Industrial Production rose 0.3% from August’s -0.7%. Capacity Utilization rose to 76.0% from August’s 75.8%.
- October’s Philadelphia Fed Manufacturing Index rose to 27.9 from September’s 23.8.
- October’s NAHB Housing Market Index rose to 68 from September’s 64.
- September’s Housing Starts fell 4.7% from August’s -0.8%. Building Permits fell 4.5% from August’s +3.4%.
- September’s Existing Home Sales rose 0.7% from August’s -1.7%.
- Initial Jobless Claims for the week ending October 13th fell by 22K to 222K. Continuing Jobless Claims for the week ending October 6th fell by 16K to 1,888K.
- US stocks rose for a six straight week, their longest string of gains since the first quarter of the year, on speculations that Donald Trump was closer to making progress on his tax reform.
- The US posted its largest budget deficit since 2013 in the fiscal year that just ended, as a pickup in spending exceeded revenue gains. The federal government’s gap grew to $665.7 billion in the 12 months through Sept. 30, compared with a $585.6 billion shortfall in fiscal 2016.