ECONOMIC CALENDAR:Tuesday: JOLTS Wednesday: Janet Yellen Speaks 10:00 AM ET, EIA Petroleum Status Report, Treasury Budget Thursday: Jobless Claims, Janet Yellen Speaks 10:00 AM ET Friday: Retail Sales, Import and Export Prices, Business Inventories, Consumer Sentiment
- Cold weather freezes motor vehicle sales. U.S. automakers posted modest sales numbers in January as winter weather kept car shoppers out of car lots. However, underlying trends are still positive, indicating that Americans are still spending on big-ticket items.
- Consumer spending fell flat in December, but savings increase. Spending by U.S. consumers remained unchanged in December. However, a three-year high in savings growth could spell higher spending in the months to come.
- Construction spending rises slightly. Spending on new construction barely rose in December, though it increased significantly in 2015 – growing 10.5% versus 9.6% in 2014.
- Global factory activity muted. Weak global demand is still affecting factory activity around the world as manufacturers struggle to find orders.
Quote Of The Week
“Diamonds are nothing more than chunks of coal that stuck to their jobs.” – Malcolm Forbes