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Daily Market MoversThe following news stories, economic reports, and statistical tables are selected and compiled by founder John F. Gallwas, who has been an active participant in the financial service industry since January of 1958.
ThursdayBB: November retail sales rose more than forecast by +0.7% vs a revised up +0.6% in October, as Americans bought cars and took advantage of discounts going into the holiday-shopping season.
BB: Initial claims for the week after Thanksgiving (12/07) were much higher than expected at +368K vs a revised up +300K the week before, brining the 4-week moving average to 328,750 vs 322,750.
Gallup: Americans now predict they will spend an average $740 on Christmas gifts, up slightly from their more budget-conscious $704 November estimate, but down from last year. This still points to limited holiday earnings gains for retailers.
WednesdayBB: The budget deficit in the U.S. last month narrowed more than economists forecast as rising employment and a rallying stock market boosted revenue to a November record.
BB: China’s new yuan loans and broadest measure of credit exceeded estimates last month in a sign authorities are trying to support growth amid a mixed picture from other economic data.
TuesdayGallup: Americans' confidence in the economy is still slowly recovering from its government shutdown-induced plunge. Gallup's Economic Confidence Index averaged -22 last week, up from -39 in mid-October, but below the -15 from mid-September.
BB: China's November industrial output rose less than estimated at +10&, but retail sales unexpectedly accelerated by +13.7%, giving a mixed picture of growth as leaders gather in Beijing to set economic policies for the coming year.
MondayBB: German October industrial production unexpectedly dropped -1.2% r, signaling an uneven recovery in Europe’s largest economy.
BB: Japan’s 3rd Q GDP was lower than initially estimated at +1,1.% , as private investment stalled.
SundayBB:Chinese November exports were higher than expected at +12.7%, pushing the trade surplus to the highest in more than four years of $33.8B, in a sign global demand is helping sustain a recovery in the world’s second-biggest economy.
BB: The difference between yields on two-and 10-year Treasuries widened to 2.55%, the most since 2011 as employment gains reinforced expectations the Federal Reserve is close to slowing bond purchases used to stimulate growth.
Economic Reports for the Week ending Friday - December 13, 2013
Last Week's Scorecard
* Local currencies
We do not guarantee accuracy of any of the data on this page. If you have any comments or suggestions, please contact William Gallwas or call 800-669-8838
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