Market Wrap: Manufacturing, Auto Sales, Retail Sales, and Google!
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Market wrap-up for December 1st
End of the Day: Dow Jones down 25.6 to 12,020.03; Nasdaq up 5.8 to 2,626.20; S&P 500 down 2.4 to 1,244.58
The following is a brief summary of events moving markets today:
End of the Day: Dow Jones down 25.6 to 12,020.03; Nasdaq up 5.8 to 2,626.20; S&P 500 down 2.4 to 1,244.58
The following is a brief summary of events moving markets today:
- Who's producing what? No, who's on second: Global manufacturing was a mixed bag in November. In the U.S., the ISM index came in at 52.7, up from 50.8 in October. Economists were looking for a number of 52.0 for the month.
In the U.K, PMI fell to 47.6. China's PMI fell to 49.0.
- Motorin'!: U.S. auto sales in November: Ford (NYSE: F) increased 13.3 percent, General Motors (NYSE: GM) popped 7 percent, Chrysler sales rose 45 percent, Nissan up 19.4 percent, Honda (NYSE: HMC) fell 6.4 percent, and Toyota (NYSE: TM) up 6.7 percent.
- Searching for new revenue inlets: Google (Nasdaq: GOOG) is said to be working on a fast-delivery service, clearly aimed at Amazon (Nasdaq: AMZN). Though details are hazy, Google is said to be in talks with several notable retailers in offering one-day, or same-day in some cases, shipping methods. What the cost will be is anyone's guess.
Google finished 2.4 percent better on the session.
- Retailers show continued growth: Speaking of retailers and sales, overall retail sales in the U.S. jumped 3.2 percent in November. Though the number was lower than the 5.5 percent gain last year, it came in-line with analyst expectations. Click here for a quick roundup of the numbers.
- What goes down..: Initial claims rose 6,000 to 402,000 for the week ended November 26th, far outpacing the 390,000 expected by analysts. Last weeks 393,000 number was revised higher to 396,000.
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