ECONOMIC CALENDAR:Monday: Dallas Fed Mfg. Survey Tuesday: International Trade in Goods, S&P Case-Shiller HPI, Consumer Confidence Wednesday: Pending Home Sales Index, EIA Petroleum Status Report Thursday: Jobless Claims, Chicago PMI Friday: U.S. Markets Closed for New Year’s Day
- Consumer sentiment rises to five-month high. Consumers regained their optimism about the U.S. economy at the end of December, pushing a measure of sentiment to the highest level since July.
- Durable goods orders flat in November. Orders for long-lasting manufactured goods were flat in November and a measure of business investment fell, indicating that demand remains weak.
- Weekly jobless claims close to four-decade low. The number of Americans filing new applications for unemployment benefits fell to a near-42-year low. Though seasonal factors may be affecting the data, the drop is another sign indicating that the labor market continues to improve.
- Personal income rises for eighth straight month. Solid wage gains pushed up income in November for the eighth month in a row, raising hopes that consumer spending and economic growth should increase next year.
QUOTE OF THE WEEK
“Knowledge can be communicated, but not wisdom. One can find it, live it, be fortified by it, do wonders through it, but one cannot communicate and teach it.” – Herman Hesse