The MorningSnapshot- 12/27

The MorningSnapshot

December 27, 2011

Morning Commentary
This morning the S&P 500 is little changed after economic data came out showing a drop in U.S. home prices, and investors are obviously still concerned about the European Debt Crisis. Overseas, the Nikkei 225 closed down -0.46%, and the Euro Stoxx 50 is almost unchanged as of 11am CST. U.S. 10Y treasury yields rose 18 bps last week and now trade around 2.014% YTM. Commodities are slightly up, with the S&P GSCI commodity index up +0.68% on the day.

Obama is set to announce his nominations for two vacancies on the Federal Reserve Board tomorrow according to a report from the WSJ. He will choose Harvard University finance professor Jeffrey Stein and Jerome Powell, who was undersecretary of the Treasury for domestic finance in the early 1990s.

Tomorrow’s economic line-up includes Jobless Claims, the Chicago Purchasing Manager data, and Pending Home Sales.

Today’s Economic Data Lineup: (EST)
9:00am, S&P/CS 20 City, M/m SA, Oct., est. -0.2% from -0.57%
9:00am, S&P/CS Composite-20, Y/y, Oct., est. -3.22% from -3.59%
10:00am, Consumer Confidence, Dec., est. 58 from 56
10:00am, Richmond Fed Index, Dec., est. 5 from 0
10:30am, Dallas Fed Manf., Dec.
11:30am, U.S. to sell 3-month bills, 6-month bills 

“Your time is limited, don’t waste it living someone else’s life. Don’t be trapped by dogma, which is living the result of other people’s thinking. Don’t let the noise of other’s opinion drowned your own inner voice. And most important, have the courage to follow your heart and intuition, they somehow already know what you truly want to become. Everything else is secondary.”
-Steve Jobs
____________________________
Taylor Anderson
Business Analyst
Clearing House

T 312 634 8902
F 312 930 3187
C 312 618 8339

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