Given the abbreviated trading week and the fact that it is year-end, look for volume to be light. International Trade in Goods data for November is released this morning. Econoday consensus is $-69.5 B, up from October’s $-66.5 B reading. Tomorrow the Conference Board’s Consumer Confidence reading for December is due. November’s reading was a solid 125. December is expected to tick higher to 128. Weekly jobless claims for the week ending 12/28 are out Thursday morning at 8:30 am. Econoday consensus is 222 K – matching the previous week’s reading. Also on Thursday, we receive the FOMC Minutes. Though significant, this reading is not likely to deliver much in the way of surprises and, therefore, much in the way of volatility. Finally, the ISM Mfg. Index for December is out Friday morning. Econoday consensus is 49.1, up one point from November’s reading.
Thought For The Day:
Closing quote from A Hidden Life
“…for the growing good of the world is partly dependent on unhistoric acts; and that things are not so ill with you and me as they might have been, is half owing to the number who lived faithfully a hidden life, and rest in unvisited tombs.” George Elliot
Nota Bene:
Thank you all for another great year! All my best for more of the same in the new decade.
Kenny’s Commentary subscribers receive the note in their inbox Monday’s before the US markets open plus economic calendar, media, charts, Mark Sutin’s Insights, Tortoise Advisors strategies, and Sam Stovall’s analysis Subscribe
Flickr photo: By redteam