January 3, 2018
The day's economic news is strong including gains for vehicle sales and outsized growth for Redbook's same-store tally, both pointing to strength for December retail sales. And pointing to year-end acceleration for the factory and housing sectors are outstanding order growth in ISM manufacturing and rising single-family investment in the construction spending report. FOMC minutes didn't move the markets though there was some concern over the flattening of the yield and related risk of recession.
The Dow ended at yet another new record, up 0.4 percent to 24,922. The bond market held steady while the dollar, which has been on the decline, bounced back with a 0.4 percent gain for the dollar index 92.19. Gold held steady near $1,320 while oil, getting a boost on unrest in Iran, added more than $1 to $61.78 and a new multi-year high.