ECONOMIC CALENDAR:Tuesday: JOLTS Wednesday: EIA Petroleum Status Report, Beige Book, Treasury Budget Thursday: Jobless Claims, Import and Export Prices Friday: PPI-FD, Retail Sales, Empire State Mfg. Survey, Industrial Production, Consumer Sentiment, Business Inventories
- Motor vehicle sales ride wave to blockbuster December. Auto manufacturers ended a record year last month, selling 17.47 million new vehicles and beating the previous record in 2000. Cheaper gas and pent-up demand contributed to improved sales.
- Factory orders slip in November. Orders for manufactured goods dropped 0.2% in November, pointing to continued weakness in the manufacturing sector.
- Construction spending falls in November. Spending on construction projects fell for the first time in 17 months, dipping 0.4% in November. While home construction was up, non-residential categories fell.
- Manufacturing activity slumps. A gauge of manufacturing activity dropped for the second month in a row in November as global weakness weighs on U.S. manufacturers.
Quote of the Week
“It is not enough to be busy; so are the ants.
The question is: What are we busy about?” – Henry David Thoreau