EQUITY MARKETS
US
S&P500 +1.44%(2,213.35); NASDAQ +1.45% (5,398.92); DJIA +1.51% (19,152.14)
This week’s reports:
- October’s CB Leading Indicator rose by 0.1% m/m from September’s +0.2% m/m.
- November’s Michigan Consumer Sentiment rose to 93.8 from October’s 91.6.
- November’s Markit Manufacturing PMI (prelim.) rose to 53.9 from October’s 53.4. November’s Markit Services PMI (prelim.) rose to 54.7 from October’s 54.8. Markit PMI Composite (prelim.) remained unchanged from October’s 54.9.
- October’s Durable Goods Orders rose 4.8% from September’s +0.4%. Durable Goods Orders ex. Trans-portation rose 1% from September’s +0.2%.
- October’s Wholesale Inventories (prelim.) fell by 0.4% from September’s +0.1%.
- October’s New Home Sales fell to an annual pace of 0.563M from September’s pace of 0.574M. Existing Home Sales rose to an annual pace of 5.60M from September’s pace of 5.49M.
- Initial Jobless Claims for the week ending November 18th rose by 18K to 251K. Continuing Jobless Claims for the week ending November 11th rose by 60K to 2,043K.
- The four major benchmark indexes hit all-time highs, thanks to an ongoing post-election rally that has lasted for three weeks and lifted almost everything from banks to industrials to small-cap stocks. About $1 trillion has been added to equity values since Donald Trump’s victory, driven by speculation that his plans to cut taxes and boost fiscal spending will accelerate a rebound in corporate profits.