Source: blogs.wsj.com - Wednesday, December 03, 2014
Agence France-Presse/Getty Images Market Snap: At the New York close: S&P 500 up 0.4% at 2074.33. DJIA up 0.2% at 17912.62. Nasdaq Comp up 0.4% at 4774.47. Treasury yields mixed; 10-year flat at 2.285%. Nymex crude oil up 0.75% at $67.38. Gold up 0.8% at $1,208.50/ounce. Click here to receive this morning newsletter via email How We Got Here: U.S. stocks rose again, sending the DJIA and S&P 500 to fresh highs in what was overall very modest trading. ADP said the economy created 208,000 jobs in November, below Street expectations. While ADP’s has its problems in terms of how well if meshes with the government report, which arrives Friday, it still was close enough that nobody’s changing their expectations that the nonfarm payrolls report on Friday will show about 230,000 jobs were created in November. In the afternoon, the Fed released its Beige Book, a periodic look at the economy. The book painted a picture of an economy that is still growing steadily if not spectacularly, with some indications that consumer spending is picking up. Lastly, who says the market doesn’t have a sense of humor? This joke that’s making the rounds arrived on our desk: What do Putin, Brent crude and the Russian ruble all have in common? They’ll all be 63 next year. Coming Up: In Europe on Wednesday, the euro fell to a two-year low against the dollar, after another burst of weak economic data, all of which only further raises the profile of Thursday’s EC
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Agence France-Presse/Getty Images Market Snap: At the New York close: S&P 500 up 0.4% at 2074.33. DJIA up 0.2% at 17912.62. Nasdaq Comp up 0.4% at 4774.47. Treasury yields mixed; 10-year flat at 2.285%. Nymex crude oil up 0.75% at $67.38. Gold up 0.8% at $1,208.50/ounce. Click here to receive this morning newsletter via email How We Got Here: U.S. stocks rose again, sending the DJIA and S&P 500 to fresh highs in what was overall very modest trading. ADP said the economy created 208,000 jobs in November, below Street expectations. While ADP’s has its problems in terms of how well if meshes with the government report, which arrives Friday, it still was close enough that nobody’s changing their expectations that the nonfarm payrolls report on Friday will show about 230,000 jobs were created in November. In the afternoon, the Fed released its Beige Book, a periodic look at the economy. The book painted a picture of an economy that is still growing steadily if not spectacularly, with some indications that consumer spending is picking up. Lastly, who says the market doesn’t have a sense of humor? This joke that’s making the rounds arrived on our desk: What do Putin, Brent crude and the Russian ruble all have in common? They’ll all be 63 next year. Coming Up: In Europe on Wednesday, the euro fell to a two-year low against the dollar, after another burst of weak economic data, all of which only further raises the profile of Thursday’s ECfrom Top News on RSS Feeds http://ift.tt/1pVWaYI
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