Project Description
US
S&P500 -0.22%(2,664.76); NASDAQ +0.11% (7,164.86); DJIA +0.12% (24,737.20)
This week’s reports:
® January’s Markit Manufacturing PMI (prelim.) rose to 54.9 from December’s 53.8. Services PMI (prelim.) fell to 54.2 from December’s 54.4. Composite PMI (prelim.) rose to 54.5 from December’s 54.4.
®January’s Richmond Fed Manufacturing Index rose to -2 from December’s -8.
® December’s Existing Home Sales fell by 6.4% from November’s +2.1%.
® Initial Jobless Claims for the week ending January 18th fell by 13K to 199K, their lowest level since November 1969. Continuing Jobless Claims for the week ending January 11th fell by 24K to 1,713K.
- US stocks rose Friday, recouping much of their losses from earlier in the week, as mostly positive earnings results and a report that the Federal Reserve will maintain a larger portfolio of Treasury securities helped boost investor sentiment.
- With results in from 22% of the companies in the S&P 500, US Q4 2018 earnings are expected to increase 11% from a year earlier, according to FactSet.
- Earlier in the week, US shares declined as the economic data from abroad was weaker than expected, raising concerns about global growth. China’s economy grew at the slowest pace in nearly three decades last year, while Germany’s business sentiment deteriorated sharply in January.