The U.S. trade deficit unexpectedly contracted 13% in October as exports rose 3.2% and imports dropped. The trade gap with China also shrunk as the U.S. reported a record amount of imports to the country.
The Reuters/University of Michigan consumer sentiment index rose in December as consumers felt more confident. There are still concerns about jobs but overall most individuals see some improvement in the economy.
China raised its bank reserve requirements by half a percentage point, the sixth such increase this year. The goal of the increases is to stop the Chinese economy from overheating. Many economists believe that another interest rate hike is also in the cards.
yesterday
After last week's disappointing employment report, there was some good news on the jobs front as initial unemployment claims fell a better than expected 17,000 last week to 421,000. Still, claims need to fall considerably more to make an impact on the overall jobs picture.
Wholesale inventories rose in October as businesses continue to restock ahead of the holiday shopping season. The increases is a moderation from September levels as inventory levels move more in line with underlying demand. Wholesale sales saw a 2.2% increase in th a month.
everything looks on the track. we are going to north. don’t freak out by your fears. lets go higher and more green.
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