Factory orders surged last month, giving exchange traded funds (ETFs) enough gas in early trading to be slightly higher.
- Factory orders unexpectedly jumped in November by 0.7%. This further adds to the momentum seen in the U.S. economy lately, especially in light of the fact that a 0.1% decline had been expected, says The Wall Street Journal. Market Vectors Coal (NYSEArca: KOL) is up 1.7% on the news this morning.
- The markets are largely on pause this morning as they await the minutes of the Federal Reserve’s policy meeting later in the day. The report will be closely eyed for clues about the quantitative easing program in effect. Most Treasury ETFs are flat as the news is awaited; SPDR Barclays Intermediate Term Treasury (NYSEArca: ITE) is up just 0.14%.
- Europe is feeling the pinch of high prices – inflation in the region rose 2.2% last month. The increase was driven primarily by higher commodity, food and energy prices. Rising inflation in the eurozone looks as though it’s boosting the appeal of non-euro countries; iShares MSCI Emerging Markets Eastern Europe (NYSEArca: ESR) is up nearly 2% this morning.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.