Registered Investment Adviser Caleb Lawrence
The tech sector managed to recover some of its recently lost ground in early trade despite a few data points that missed expectations. More saber rattling in Korea, Bitcoin looks at $12,000, while the Federal Government stares at another budget shutdown as the yield curve continues to flatten.
The International Trade Deficit jumped to 48.7 billion in October to a 9-month high, exports were unchanged while imports increased 3.8 billion to 244.6 billion an all-time high.
The Institute for Supply Management Non-Manufacturing or services index slipped 2.7 points in November to 57.4. Declines were fairly broad based but show nothing remarkable.
CoreLogic reports that home prices advanced 7% from a year ago in October and .9% for the month. Gains were particularly notable in Philadelphia +1.3%, Washington up 1% and Riverside +.7%, Chicago slipped .2% for the month.