fbpx Accept-Encoding: deflate, gzip

Trade Deal Rumors Swirl
The Market Bull 2019

 
 
00:00 / 2:14
 
1X
 

The Market Bull – December 4, 2019

The major averages closed with decent gains despite disappointing economic data. Trade deal rumors swirl as do rumors of trouble in the Persian Gulf.

Semiconductor billings advanced 2.9% in October to $36.6 billion, a 4th consecutive gain on strength in the Americas. Other regions advanced as well but the increases were very weak. On a year ago basis sales are down 13.1%, but this follows 2-years of solid growth for the series.

AutoData reports that vehicle sales came in slightly above consensus in November at 17.1 million units annualized. Car sales jumped 4.2% for the month while light truck and SUV sales gained 2.3%. Most of the sales gain was recorded by GM and to a much lesser extent Toyota, everyone else was flat to down for the month. Despite November’s strong gains it’s highly likely that 2019 total sales will come in below 17 million units.

The Institute for Supply Management or ISM Non-Manufacturing or services index missed expectations in November falling .8 points to 53.9 despite improvement to new orders and employment. Price data remains fairly high increasing 1.9 points to 58.5 for the month. Imports fell again to 45. This series covers about 88% of total economic activity and 50 is considered neutral, neither expanding nor contracting.

Standard and Poors 500 Index closed at: 3,112.76 up 19.56
NASDAQ finished the day: 8,566.67 up 46.03
Gold ended trading at: $1,480.30 down $4.10

error

Enjoy this blog? Please spread the word :)