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Trump’s Impeachment Becomes Official
The Market Bull 2019

 
 
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The Market Bull – December 5, 2019

The major averages closed with small gains on mixed data. Trade war settlement hopes dim again. Trump’s impeachment becomes official.

Payrolls firm ADP reported just 67,000 new private sector jobs in November, a figure less than half of expectations. With the ongoing trade war, softening economic data and continued political uncertainty businesses will be reluctant to hire going forward. The official Bureau of Labor Statistics or BLS Employment report is due tomorrow.

The International Trade Deficit slipped to 47.2 billion in October with exports down .2% to 207.1 billion while imports fell 1.7% to 254.3 billion. This report should improve 4th quarter GDP slightly. With trade talk rhetoric on high of late, and tariffs being thrown around, trade will likely remain under pressure near term.

Factory Orders were a real bright spot today as they snapped a pair of declines to beat expectations substantially with a .3% advance. The proxy for business spending non-defense capital goods ex-aircraft rose a very respectable 1.1% for the month.

Standard and Poors 500 Index closed at: 3,117.43 up 4.67
NASDAQ finished the day: 8,570.70 up 4.03
Gold ended trading at: $1,481.30 up $1.10

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