Registered Investment Adviser Caleb Lawrence
Philly Fed up again. Chicago Fed National Activity Index falls .5, 3-month moving average +.41, shows decent growth.
Generally positive data sent the major averages into the final hour with decent gains. The final revision to 3rd quarter Gross Domestic Product or GDP saw a small reduction to 3.2% on slightly weaker personal consumption or spending.
The Philadelphia Fed regional index gained 3.5 points to 26.2 in December on an increase in new orders. Prices paid fell sharply dropping 13.6 points to 25.4.
The Chicago Fed National Activity Index slipped .5 to .15 in November, on weakness in personal consumption and housing. The 3-month moving average increased to .41 indicating decent growth for an index that covers some 85% of the economy.