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Daily Market MoversThe following news stories, economic reports, and statistical tables are selected and compiled by founder John F. Gallwas, who has been an active participant in the financial service industry since January of 1958.
SaturdayWS: House and Senate lawmakers headed back to work Saturday, as leaders from both parties prepared for a weekend of talks to resolve disagreements over immigration policy that triggered the first government shutdown in more than four years.
FridayBB: January Consumer sentiment unexpectedly declined to 94.4 vs 95.9 in December, as American households viewed the economy less favorably in January.
WS: The number of Americans filing applications for new unemployment benefits fell last week to the lowest level in nearly 45 years, a sign the labor market is beginning 2018 with strong momentum.
ThursdayBB: December Housing Starts were better than expected at 1,192K , but eased from the fastest pace in 13 months of revised up 1,199K units, while permits held steady to finish the strongest year for housing construction in a decade. Applications to build single-family homes rose to an 881k annual rate, the fastest since August 2007
BB: U.S. bonds extended a drop, with the 10-year Treasury yield climbing above 2.6 percent for the first time since March to help the dollar hold Wednesday’s gain. The euro strengthened while European stocks were mixed.
WednesdayWS: Economic activity across the U.S. expanded into 2018, with tight labor markets and modest wage and price growth, according to a Federal Reserve Beige Book.
BB: U.S. factory production rose for a fourth straight month in December by +0.9%, capping the strongest quarter since 2010 and underscoring a resurgence in manufacturing that’s primed for further advances. Capacity utilization, measuring the amount of a plant that is in use, rose more than expected to 77.9% from 77.2%
BB: Japan’s core machine orders unexpectedly rose in November by +5.7%, driven by demand from the nation’s non-manufacturing sector, the latest sign of strengthening capital investment. Orders from the non-manufacturing sector rose 9.8% from the previous month, while orders from the manufacturing sector declined 0.2 percent.
TuesdayWS :Spending at U.S. retailers rose +0.4% in December for the fourth consecutive month, capping the strongest year for sales growth since 2014 and showing a continued surge in online retail sales while department-store spending slowed during a key month of the holiday shopping season.
MondayWS: The promise of accelerating economic growth overseas is propelling investor funds into the yen, euro and many emerging-market currencies, intensifying a yearlong siege on the U.S. dollar. The ICE Dollar Index hit its lowest level in more than three years on Friday, extending a nearly 10% decline last year that marked the dollar’s steepest annual fall since 2003.
Economic Reports for the Week ending Friday January 24, 2018
Last Week's Scorecard
* Local currencies
We do not guarantee accuracy of any of the data on this page. If you have any comments or suggestions, please contact William Gallwas or call 800-669-8838
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