Price Return Last Week
S&P 500 (0.5%) S&P Mid Cap +0.4% Russell 2000 +1.1%
MSCI EAFE (0.9%) MSCI EM (0.9%)
10 Yr US Treasury Rate – rose from 4.52% to 4.60%
Source: Refinitiv Eikon
Recent News
ISM Manufacturing PMI – Dec: 49.3 (Reuters Poll est. 48.4) Nov: 48.4
Manufacturing activity beat expectations last month and rose to a nine-month high. Underlying the strengthening data was a good reading on new manufacturing orders. The index level for new orders was reported at 52.5, rising above 50 for the first time since March 2024. A reading above 50 signals growth in the sector and a reading below 50 indicates contraction. This was the fourth consecutive month that the new manufacturing order level increased.
Source: Thomson Reuters, Refinitiv Eikon
Jobless Claims – The number of Americans filing for unemployment benefits fell to a seasonally adjusted 211,000 for the week ended December 28. This represented the lowest number of new applications in eight months. The four-week moving average, which removes seasonal volatility in the data, fell as well.
Source: Thomson Reuters, Refinitiv Eikon
Pending Home Sales – Contracts to buy existing homes rose for the fourth-straight month in November and were up 7% compared to a year earlier. The Pending Home Sales Index is now at its highest level in 21 months. All of this despite 30-year-fixed mortgage rates increasing for the last two months and reaching the highest level since July.
Source: Thomson Reuters
Roman Holiday – While it is thought that the act of making New Year’s resolutions goes back to Babylonian days, ancient Romans also practiced a similar tradition. Julius Caesar named the first month of the year January in honor of the two-faced god, Janus. With January beginning at the start of the year, Romans believed that Janus could look backwards into the previous year and ahead into the future and they would make promises of good conduct in the coming year to appease the deity.
Source: History.com
Upcoming Events
1/7 – ISM Non-Manufacturing PMI, JOLTS Job Openings
1/8 – Fed Minutes, ADP National Employment
1/9 – Jimmy Carter Funeral, Notable Earnings Reports: Constellation Brands
1/10 – Jobs Report, Notable Earnings Reports: Walgreens Boots Alliance, Delta Airlines
Source: Refinitiv Eikon
Comments