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Buy, Buy, Buy
Dec 01, 4:39 PM EST |
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| Stocks, metals and crude oil rallied. Stocks gained on easing inflation, copper rose on supply concerns and gold crossed $500. Crude gained 2%. |
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| It was a day of rally in stock, metals and crude oil markets. Stocks rallied on the back of report suggesting inflation pressures may be weakening. Copper reached a new high on supply concerns and gold closed above $500 for the first time since 1983. Domestic automakers reported decline in November sales despite falling gasoline prices and generous incentives. Apparel retailers delivered weak same-store sales in October. |
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Auto Sales Disappoint
Dec 01, 1:16 PM EST |
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| Copper rose to records in NY and London on signs that economic growth is boosting global demand. Copper has jumped 5.4% this week and 35% this year. |
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| Initial jobless claims declined by 17,000 to 320,000 in the week ended Nov 26, vs expectations of a decline of around 323,000. Personal income rose 0.4% in October after surging up 1.7% in September. Personal spending increased by 0.2% in line with economist estimates. Auto sales in November increased compared with October sales, but were still disappointing. |
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Nasdaq Rallies 1%
Dec 01, 11:06 AM EST |
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| Wal-Mart reported 4.3% same-store sales increase in November. Costco posted 6% rise in comparable-store sales, missing estimates of 7.2%. |
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| The U.S. Department of Labor reported that initial jobless claims declined by 17,000 to 320,000 in the week ended Nov 26, vs expectations of a decline of around 323,000. The Commerce Dept. said that personal income rose 0.4% in October after surging up 1.7% in September, slightly below estimates of a 0.5% increase. Personal spending increased by 0.2% in line with economist estimates. |
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Jobless Claims Decline
Dec 01, 9:35 AM EST |
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| Crude oil slipped on heating oil stocks increase. Gold traded mixed in Europe. The dollar hit a 28-month high against the yen. |
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| Asian-Pacific markets closed mixed with the Nikkei up 1.8%, hitting a five-year high of 15,130.50, boosted by shipping and constructions stocks. European shares advanced, led by the French CAC 40, up 0.7%. Economic news, including weekly unemployment statistics, personal income and spending index is due out today. Wal-Mart reported 4.3% same-store sales increase in November. Costco posted 6% rise in comparable-store sales, missing estimates of 7.2%. |
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