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 18^th rose by 18K to 251K. Continuing Jobless Claims for the week ending November 11^th 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.