Stocks have kicked off the final
month of the year in a positive mood with all indices moving upward in early
trading. All eyes continue to be fixed on whether or not the Fed will raise
rates later this month and there will be key economic data out this week which
will surely impact that decision. The most important data comes out on Friday
with the non-farm employment data which will be a key indicator of the health
of the U.S. labor market. Potential market moving news out today will feature manufacturing
data followed by construction spending for October and monthly car sales. Any
sign of a healthy economy will point toward the Fed making a move in a couple
of weeks. Black Friday reports looked pretty bleak for most retailers, however
Amazon is off and running today after reporting it experienced a record holiday
weekend with sales at three times what they were last Thanksgiving. Things look
positive around the world as both the European and Asia markets have responded
favorably to a slew of mostly positive manufacturing data. Both oil and gold
have started the day trading in positive territory. All in all, December is off
to a good start.
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