Quote of the week."Wisdom is found only in truth."- Johann Wolfgang Von Goethe
Jobless rate stays at 10.0%.Hopes were high on Wall Street that unemployment would fall back to single digits, but at least things stayed flat for December. The positives: the 10.0% figure was better than the 10.1% reading economists polled by Dow Jones Newswires expected, and revised November figures showed the economy actually added 4,000 jobs two months ago.1
Service sector expands. The Institute for Supply Management's services index came in at 50.1 for December, meaning marginal growth - and a rise from November's 48.7 mark. ISM's service sector employment index improved to 44.0 in December from 41.6 a month earlier.2
Interpreting pending home sales.They fell 16.0% in November, but consider some factors. A wave of buyers raced to exploit tax credits in October, so we were primed for a fall - and winter isn't a prime time to buy or sell. In the big picture, the National Association of Realtors noted that pending home sales for November 2009 were 15.5% above levels of a year before.3
More orders, bigger stockpiles.According to the Census Bureau, factory orders went north 1.1% in November; analysts had expected about half that gain. Wholesale inventories rose 1.5% last month (best month since October 2004) and wholesale sales rose 3.3% (strongest month since January 2008).4,5
2.68% gain to start 2010. Yes, that was how much the S&P 500 rose in the first trading week of the year. A January effect sent the NASDAQ 2.12% higher and the Dow 1.82% higher as well. Friday morning, the CBOE VIX hit its lowest level in 19 months.6,7
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C.W. Copeland "Your Personal CFO" C.W. Copeland & Associates Lifestyle Management Advisors 3401 Norman Berry Drive Suite 253 East Point, GA 30344 404.567.3275 (direct) 404.601.9534 (fax) www.PhDinMoney.com
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A degreed engineer (in a past life) business owner, business development coach, project manger, and organizational strategist with a strong background in surveillance, ES&H redesign, project management, process engineering, organizational operations, management, business law, and ISO internal auditing. Am an organzing member of NSBE-AE, Organizing Board member Greenwood Festival Chorale, former Omega Psi Phi Graduate Chapter President (Baselius) a former Shelter BOD Chair, a former Regional Chair, former Lander Board of Visitors Member, former Chamber BOD member, as well as many other organizational leadership positions. Owner Spearman Enterprises and Managing Partner Top Flight LLC.