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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.
TuedayMW: November Housing Starts were higher than expected at a seasonally adjusted annual 1.256M rate vs a revised down 1,217M in November, . That was 3.2% higher than the revised October figure, but 3.6% lower than a year ago. Building Permits were also better than expected at 1,328M vs a revised up 1,265M
BB:The December German business sentiment index deteriorated further to 101.0 vs 102 in November, and to its lowest level in more than two years, as trade tensions and the rising risk of a no-deal Brexit threaten to hamper a meaningful economic rebound from a summer lull.
MondayMW: The NAHB December housing index was worse than expected at 56 vs 60 in November, as many headwinds that have been dogging the industry finally showed up in this report. Labor is still expensive, lots are still scarce, lumber is at the mercy of tariff politics, and now, mortgage rates are rising and customers are holding back.
MW: The Empire State manufacturing index fell much more than expected by 12.4 points to 10.9 in December and to the weakest level this year. There was weakness across the board in the report. The new orders index fell 5.9 points to 14.5 in December, while shipments fell 7 points to 21
WT: North Korea threatened Sunday to kill any progress toward denuclearization if the Trump administration continues to increase sanctions pressure and criticize human rights abuses by leader Kim Jong-un’s regime.
WS: New evidence that economies in Europe and China are slowing sparked worries that the malaise could spread to the U.S., driving down stocks and sending the Dow Jones Industrial Average into correction territory for the first time in almost three years.
SundayWS: The Federal Reserve will conclude its final policy meeting of the year Wednesday. With traders widely expecting the central bank to raise short-term interest rates, many say the focus will be on Fed officials’ comments on the economy.
WS: The Dow Jones Industrial Average tumbled into correction territory Friday as disappointing economic data from China and the eurozone sparked a retreat by investors and traders hesitant to enter the weekend with big bets.
Economic Reports for the Week ending Friday December 21, 2018
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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