Chart reflects price changes, not total return. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments.
Last Week’s Economic News
- November’s report on durable goods was not encouraging for manufacturing. New orders for durable (long-lasting) goods fell 2.0% in November from the previous month. The decrease, down two of the last three months, followed October’s 0.2% increase. Excluding transportation, new orders were virtually unchanged. Excluding defense, new orders increased 0.8%. Transportation equipment, also down two of the last three months, led the decrease, falling 5.9%. Shipments of durable goods in November, up following four consecutive monthly decreases, increased 0.1%. Nondefense new orders for capital goods in November decreased 1.8%.
- New home sales ticked higher in November, up 1.3% from their October totals. Sales of new homes are 16.9% ahead of their 2018 pace. The median sales price of new houses sold in November 2019 was $330,800. The average sales price was $388,200. The estimate of new houses for sale at the end of November was 323,000. This represents a supply of 5.4 months at the current sales rate.
- For the week ended December 21, there were 222,000 claims for unemployment insurance, a decrease of 13,000 from the previous week’s level, which was revised up by 1,000. According to the Department of Labor, the advance rate for insured unemployment claims remained at 1.2% for the week ended December 14. The advance number of those receiving unemployment insurance benefits during the week ended December 14 was 1,719,000, a decrease of 6,000 from the prior week’s level, which was revised up by 3,000.
Eye on the Week Ahead
The first week of the new year kicks off with purchasing managers’ assessment of December’s manufacturing sector. Also, the December figures on international trade in goods is out this week. The goods trade deficit was $66.5 billion in November.
Key Dates/Data Releases
12/30: International trade in goods
1/2: Markit PMI
1/3: ISM PMI
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