ECONOMIC CALENDAR:Monday: Personal Income and Outlays, PMI Manufacturing Index, ISM Mfg. Index, Construction Spending Tuesday: Motor Vehicle Sales Wednesday: ADP Employment Report, ISM Non-Mfg. Index, EIA Petroleum Status Report Thursday: Jobless Claims, Productivity and Costs, Factory Orders Friday: Employment Situation, International Trade
- Consumer confidence edges up. A measure of consumer optimism about the economy improved slightly in January, indicating that Americans are (so far) brushing off concerns about financial markets.
- Durable goods orders slump. New orders for long-lasting factory goods plummeted 5.1% in December, showing that the manufacturing sector slowed considerably last quarter.
- Weekly jobless claims fall. The number of Americans filing new claims for unemployment benefits fell sharply after reaching a six-month high two weeks ago, suggesting that labor market growth remains strong.
- China set growth target for 2016. For the first time, Chinese leaders set economic growth targets of 6.5-7.0% for this year as they attempt to support a transition to a more modest pace of growth.
Quote Of The Week
“Try never to be the smartest person in the room. And if you are, I suggest you invite smarter people … or find a different room.” – Michael Dell