Congress finally acted and placed a bandaid on the problem! My New Years' resloution was to work for change to the system to replace those that don't really represent the best interest of our nation.
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The Day Ahead: Markets Respond to 11th Hour Fiscal Cliff Deal
The final December reading for the PMI Manufacturing Report is a very solid 54.0, up a solid 1.2 points from November's 52.8. Any reading over 50 indicates monthly growth in general business activity with December's higher reading indicating a greater rate of growth than November. In fact, 54.0 is the strongest final reading since May. ISM's Manufacturing composite index shows only marginal growth in general activity, at 50.7 which however is better than November's reading of 49.5. New orders are flat and unchanged at 50.3 though new export orders are suddenly showing growth at 51.5 for the first plus 50 reading since May. Employment is a plus, up nearly 4.3 points to 52.7 for the best reading since June. Construction Spending is not quite as strong as earlier believed. But the housing sector is still on an uptrend. In November, Construction Spending declined 0.3 percent, following a 0.7 percent gain the month before. Market expectations were for a 0.6 percent gain. FOMC Minutes later today.
Dow is trading at 13,345 +244.82, the 10 yr bond is at 1.84 from 1.73 Monday, . Currently mortgages areworse from yesterday!
Conv. - 3.375%
FHA. - 3.125%
Be thankful for all we have! And let's make it a better place for all our kids!
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