Manufacturing continues to post strong numbers this morning as the Trump economy recovers from the pandemic lockdown. There is no denying the strength, although others have tried to point to weak job growth embedded in the numbers.
New orders and construction spending handily beat the estimates.
Financial markets are continuing to rally to new highs today on vaccine news and Congress possibly moving forward with some type of further pandemic stimulus.
Gold is rallying as a hedge as Bitcoin declines on profit taking.
Oil is approaching a $50 handle on hopes production cuts are continued. OPEC members continue to meet to hammer out agreement.
Markit Manufacturing PMI (Nov) printed at the consensus estimate of 55.8.
ISM Manufacturing Equipment Index (Nov) printed at 48.4 vs 51.4 estimate.
ISM Manufacturing PMI (Nov) printed at 57.5 vs 58 estimate.
ISM Manufacturing Prices Paid (Nov) printed at 65.4 vs 65 estimate.
ISM Manufacturing New Orders Index (Nov) printed at 65.1 vs 53.4 estimate.
Construction Spending (MoM) (Oct) printed at 1.3% v 0.8% estimate.
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