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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.



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