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Large Gains
The Market Bull 2018

00:00 / 1:33

Despite disappointing economic data the major averages enter the final hour with large gains.

Productivity advanced a respectable 2.2% annualized in the 3rd quarter. Unit labor costs increased 1.2% annualized, compensation advanced 3.5%. Decent numbers to be sure but productivity remains a shadow of its former self in the post crisis period since 2007.

The Institute of Supply Manufactures Manufacturing Index slipped 2.1 points to a still strong 57.7 in October. The details were unremarkable, price data increased.

Construction spending missed expectations in September unchanged. Public construction fell .9% negating the .6% gain in residential construction. This series has been weak for 4 months as higher interest rates bite.

This is Caleb Lawrence Registered Investment Adviser Scotts Valley Drive and Willis Road in the Scotts Valley Plaza, Suite 202 or call me toll free at 888-RICH PIG / 888-742-4744.

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Rebroadcasts, additional writings, and other entries are also available on my Blog at www.clinvestments.com

Advisory services offered through Caleb Lawrence Registered Investment Adviser Inc.


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