December 4, 2017
Factory orders did edge lower in October but upward revisions to core capital goods data are very positive for fourth-quarter business investment. This is a busy week for economic data capped off on Friday with the November employment report which is expected to be very solid.
Stocks were mixed with the Dow rallying on Senate passage of a tax overhaul but the Nasdaq falling sharply on a selloff in technology shares. The Dow rose 0.2 percent to 24,290 while the Nasdaq lost 1.1 percent to 6,775. Oil fell back nearly $1 to $57.50 while money moved out of bonds with the 2-year Treasury yield up a sizable 4 basis points to 1.81 percent.