December 28, 2017
Fourth-quarter GDP may well make the 3 percent mark for the third quarter in a row, but it won't be getting any help from net exports as the nation's trade deficit in goods rose sharply for a second straight month, to an unexpectedly high and unwanted record at $69.7 billion in November. The day's other data include the Chicago PMI which ends the year at a 6-1/2 year high and with its production index at a 34-year high. Hiring in Chicago's sample, however, is being held down by a scarcity of workers.
Stocks were up again as the Dow rose 0.3 percent to 24,837. Demand for Treasuries eased with the 10-year yield up slightly to 2.43 percent. The dollar index fell 0.4 percent to 92.63 while oil held steady near $60 and gold near $1,300.