Monday Afternoon Cheat Sheet: 3 Stories That Moved Markets
The U.S. equity markets tripped over Friday’s rally and finished the day with a black eye. A weaker-than-expected manufacturing report compounded the negative impact of growing political tension in Europe, and the markets
At the close: DJIA: -0.93%, S&P 500: -1.15%, NASDAQ: -1.51%.
1) The Factory Orders Report released by the U.S. Department of Commerce on Monday was packed with useful economic information. The report is a tool that investors can use to develop their understanding of the economic environment against which they have to make investment decisions. If all the indicators say growth, then the rotation into equities make sense as corporate profits are bound to rise. If all the indicators say sluggishness, then the bond market gets a lot of attention.
Overall, new orders for manufactured goods increased 1.8 percent in December to $484 billion. This is below estimates for 2.4 percent growth, but a marked improvement over November’s 0.3 percent contraction… (Read more.)