Challenger Report on Corporate Layoffs for October, 2006

Earlier today, the outplacement company Challenger released their report on corporate layoffs for October, 2006:

U.S. Job Cuts Announced during October, 2006: 69,177

When the corporate layoff numbers are high, consumer spending may decline, since there are less people with steady jobs.

When corporate layoffs are low, this can mean that the job market is relatively tight, which can be a harbinger of wage inflation.

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All 3 Majors Declined Today

All 3 major indices retreated today on further evidence of a waning U.S. economy. 1,804,783,880 shares were traded @ The New York Stock Exchange®.


Summary of The U.S. Markets:

----------------------------------------------------------

DJIA: Closed @ 12,031.02 (-49.71)

NASDAQ: Closed @ 2,334.35 (-32.36)

S and P 500: Closed @ 1,367.81 (-10.13)

----------------------------------------------------------

NYMEX Crude Oil Future closed @ $58.70/barrel

NY Spot Gold is currently @ $618.10/ounce (+$1.80)

In New York, The U.S. Dollar buys 0.7841 Euros

In New York, The Euro buys 1.2754 U.S. Dollars

The U.S. Prime Rate (Fed Prime Rate) is 8.25%

10-Year Treasury Note Yield is currently @ 4.561%

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U.S. Motor Vehicle Sales Report for October, 2006

The Domestic Motor Vehicle Sales report for October, 2006 was released this afternoon:

Predicted: 12,500,000
Actual: 12,300,000

The above figures represent unit sales of American-made cars, minivans, SUV's and light trucks. The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.

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Crude Oil Inventories Report for Week of October 27, 2006

The U.S. Crude Oil Inventories report for the week that ended on October 27, 2006 was released this morning:

Weekly Change: +2,000,000 Barrels

Yearly Change: +15,200,000 Barrels

Current U.S. Crude Oil Stocks: 334,300,000 Barrels

Diminishing crude oil inventories can translate to higher crude oil prices (and vice versa), but not always.

The report is produced by the U.S. Energy Information Administration (EIA).

Click here for a more detailed summary of The Week in Petroleum.

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Construction Spending during September, 2006

Earlier today, the U.S. Census Bureau -- which is part of the U.S. Commerce Department -- released the Construction Spending report for September, 2006:

Predicted: -0.3%
Actual: -0.3%

The above percentages represent the month-to-month change in new public and private construction activity for the United States. The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.

Overall construction spending is up by 2.9% when compared to the revised numbers from September, 2005.

Click here to view the full Census Bureau report.

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Dow Retreated, but The NASDAQ and S&P 500 Gained

The S&P 500 and the NASDAQ Composite indexes advanced today, but the Dow Jones Industrial Average (DJIA) retreated. 1,755,463,220 shares were traded @ The New York Stock Exchange®.


Summary of The U.S. Markets:

----------------------------------------------------------

DJIA: Closed @ 12,080.73 (-5.77)

NASDAQ: Closed @ 2,366.71 (+2.94)

S&P 500: Closed @ 1,377.94 (+0.01)

----------------------------------------------------------

NYMEX Crude Oil Future closed @ $58.54/barrel

NY Spot Gold is currently @ $604.20/ounce (+$0.10)

In New York, The U.S. Dollar buys 0.7835 Euros

In New York, The Euro buys 1.2762 U.S. Dollars

The U.S. Prime Rate (WSJ Prime Rate) is 8.25%

10-Year Treasury Note Yield is currently @ 4.606%

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Consumer Confidence Index (CCI) for October, 2006

The Consumer Confidence Index (CCI) for this month (October, 2006) was released by The Conference Board this morning:

Predicted: 108.0
Actual: 105.4

The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.

Every month, The Conference Board sends a questionnaire to 5,000 U.S. households. Survey participants are polled about their feeling regarding the current U.S. economy, the future of the U.S. economy, and about their own fiscal circumstances. On average, 3,500 participants complete and return the 5-question survey.

The baseline "100" score for the CCI is linked to 1985 survey data.

When consumers feel good about the economy, they tend to do more spending, and vice versa.

Based in New York City, The Conference Board is a private, not-for-profit organization with a mission to, "create and disseminate knowledge about management and the marketplace to help businesses strengthen their performance and better serve society."

The CCI is always released on the last Tuesday of the month.

Last month, the CCI was 104.5.

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Redbook Numbers for The Week of October 28, 2006

The Redbook numbers for the week that ended on October 28, 2006 were released this morning:

Redbook Sales Figures: +3.3%

The Redbook measures the weekly sales at chain stores, discount stores, and department stores -- about 9,000 stores in total -- and is therefore an important measure of current consumer spending in the U.S. The above figure represents the year-to-year change in the Redbook sales figures, so sales are up by 3.3% when compared to sales during the corresponding week back in October of 2005.

The weekly Johnson Redbook Index report is produced by Redbook Research.

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The S&P 500 and NASDAQ Advanced Today; The Dow Lost Some Ground

The S&P 500 and the NASDAQ Composite indices advanced today on cheaper crude oil prices, but the Dow Jones Industrial Average (DJIA) lost some ground. 1,432,314,490 shares were traded @ The New York Stock Exchange®.


Summary of The U.S. Markets:

----------------------------------------------------------

DJIA: Closed @ 12,086.50 (-3.76)

NASDAQ: Closed @ 2,363.77 (+13.15)

S&P 500: Closed @ 1,377.93 (+0.59)

----------------------------------------------------------

NYMEX Crude Oil Future closed @ $58.27/barrel

In New York, The U.S. Dollar buys 0.7864 Euros

In New York, The Euro buys 1.2716 U.S. Dollars

The U.S. Prime Rate (WSJ Prime Rate) is 8.25%

10-Year Treasury Note Yield is currently @ 4.673%

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Personal Income & Consumer Spending In September, 2006

Earlier today, the Commerce Department's Bureau of Economic Analysis released their report on Consumer Spending and Personal Income in September, 2006:

Personal Consumption Expenditures
(a.k.a. Consumer Spending)
Predicted: +0.2%
Actual: +0.4%

Personal Income
Predicted: +0.3%
Actual: +0.5%

The above percentages represent the month-to-month change in Consumer Spending and Personal Income for the entire United States. The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.

Click here to view the full Commerce Department report (PDF).

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The 3 Majors Declined Today On Soft GDP Numbers, But All 3 Advanced On The Week

The 3 major indexes retreated today on weak Gross Domestic Product (GDP) estimates for the third quarter, but all 3 majors gained for the week. 1,556,744,780 shares were traded @ The New York Stock Exchange®.

For the week, the Dow Jones Industrial Average (DJIA) gained 87.89 points (+0.732%), the NASDAQ Composite Index added 8.32 points (+0.355%), and the S&P 500 Index added 8.74 points (+0.639%).


Shares of DJIA component Caterpillar (CAT) lost $1.08 (-1.73%) to close @ $61.27.

Shares of DJIA component Wal-Mart (WMT) lost $1.02 (-1.97%) to close @ $50.73.


Miscellaneous Gainers:

Shares of Rinker Group Ltd. (RIN) added $17.70 (+33.15%) to close @ $71.10 on news that Mexico-based Cemex -- the global #3 cement producer -- has bid around $12 billion to buy the company.

Shares of Florida Rock Industries (FRK) added $2.99 (+7.46%) to close @ $43.09.


Shares of Texas Pacific Land Trust (TPL) added $12.99 (+8.43%) to close @ $166.99.


Shares of Vertex Pharmaceuticals Inc. (VRTX) added $6.09 (+17.62%) to close @ $40.66.


Shares of Volcom Inc (VLCM) added $3.32 (+11.68%) to close @ $31.74.


Shares of Netgear Inc. (NTGR) added $3.84 (+16.24%) to close @ $27.48.


Shares of Home Inns & Hotels (HMIN) added $2.94 (+13.07%) to close @ $25.44.


Miscellaneous Decliners:

Shares of Google Inc. (GOOG) lost $9.90 (-2.04%) to close @ $475.20.


Shares of Alltel Corporation (AT) lost $4.19 (-7.20%) to close @ $53.99.


Shares of Invitrogen Corporation (IVGN) lost $8.03 (-12.16%) to close @ $58.01.


Shares of Bright Horizons Family Solutions (BFAM) lost $5.65 (-12.81%) to close @ $38.44.


Shares of Hittite Microwave Corporation (HITT) lost $6.42 (-15.05%) to close @ $36.25.


Shares of CommScope Inc. (CTV) lost $3.00 (-8.54%) to close @ $32.13.


Shares of Georgia Gulf Corporation (GGC) lost $4.99 (-18.54%) to close @ $21.93.


Shares of Aspreva Pharmaceuticals Corporation (ASPV) lost $3.16 (-14.27%) to close @ $18.99.


Shares of Interphase Corporation (INPH) lost $2.22 (-21.87%) to close @ $7.93.


Summary of The U.S. Markets:

----------------------------------------------------------

DJIA: Closed @ 12,090.26 (-73.40)

NASDAQ: Closed @ 2,350.62 (-28.48)

S&P 500: Closed @ 1,377.34 (-11.74)

----------------------------------------------------------

NYMEX Crude Oil Future closed @ $60.75/barrel

NY Spot Gold closed @ $598.00/ounce (+$1.40)

In New York, The U.S. Dollar buys 0.7848 Euros

In New York, a euro buys 1.2742 U.S. dollars

The U.S. Prime Rate (Fed Prime Rate) is 8.25%

10-Year Treasury Note Yield is currently @ 4.675%

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Consumer Sentiment for October, 2006

Consumer Sentiment for October, 2006:

Predicted: 92.4
Actual: 93.6

The Consumer Sentiment Index is compiled on a monthly basis by the University of Michigan; 500 U.S. households are queried about their own financial circumstances and about the economy in general. 200 questions are asked, e.g. "Do you think that right now is a good time to purchase a major household item, like a new microwave oven, TV set, or a new sofa?"

The Consumer Sentiment Index uses a 1966 baseline, i.e. for 1966, the Consumer Sentiment Index = 100. So any number that is below the 1966 baseline of 100 means that the folks who were polled recently aren't as optimistic about the U.S. economy as the sample that was polled back in 1966.

The Consumer Sentiment Index is similar to the Consumer Confidence Index in that they both measure consumer attitudes and offer insight into consumer spending.

The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.

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Gross Domestic Product (GDP) "Advance" Released Today for Q3, 2006

U.S. Gross Domestic Product (GDP) numbers for the third-quarter of 2006 were released this morning by the Commerce Department's Bureau of Economic Analysis:

Predicted: +2.0%
Actual: +1.6%

The above percentages represent the quarter-to-quarter change in the Gross Domestic Product for the United States. The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.

The GDP is a very broad measure of economic activity for the entire United States, covering all sectors of the economy.

The "advance" estimates are based on data that are incomplete or subject to future revision. Next month, the Commerce Department will release a "preliminary" report for the above-referenced quarter, which will contain more accurate data. A "final" GDP report will be released later this year, which will contain the most accurate and authoritative data on the above-referenced quarter.

Click here to view the full Commerce Department report (PDF).

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The 3 Majors Advanced on Cheaper Crude Oil

Cheaper crude oil helped all 3 major indexes to advance today, with the Dow Jones Industrial Average (DJIA) closing at a brand new record high: 12,163.66. 1,737,941,290 shares were traded @ The New York Stock Exchange®.


Summary of The U.S. Markets:

----------------------------------------------------------

DJIA: Closed @ 12,163.66 (+28.98)

NASDAQ: Closed @ 2,379.10 (+22.51)

S + 500: Closed @ 1,389.08 (+6.86)

----------------------------------------------------------

NYMEX Crude Oil Future is currently @ $60.57/barrel

NY Spot Gold is currently @ $596.50/ounce (-$0.10)

In New York, The U.S. Dollar buys 0.7874 Euros

In New York, The Euro buys 1.27 U.S. Dollars

The U.S. Prime Rate (Fed Prime Rate) is 8.25%

10-Year Treasury Note Yield is currently @ 4.721%

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New Home Sales for September, 2006

The September, 2006 New Home Sales report was released this morning:

Predicted: 1,050,000

New Home Sales for September 2006: 1,075,000

September New Home Sales: Average Price: $293,200

September New Home Sales: Median Price: $217,100

------------------------------------------------------

August, 2006 New Home Sales (Revised): 1,021,000

September, 2005 New Home Sales: 1,253,000

Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the monthly New Home Sales report measures the number of newly-built homes with committed buyers for a given month.

The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.

The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners and microwave ovens.

Click here to view the full Commerce Department report (PDF).

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New Unemployment Insurance Claims for The Week of October 21, 2006

Earlier today, the Labor Department released the New Unemployment Insurance Claims report for the week that ended on October 21, 2006:

Predicted: 305,000
Actual: 308,000

The above figures represent the number of first-time claims for unemployment benefits for the entire United States. The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.

Click here to view the full Labor Department report.

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Durable Goods Orders Report for September, 2006 Released Today

The Durable Goods Orders report for September, 2006 was released this morning:

Predicted: +2.2%
Actual: +7.8%

The above percentages represent the month-to-month change in orders for durable or hard goods for immediate or future delivery from U.S. manufacturers. Examples of durable goods: cars, microwave ovens, computers -- items that are built to last 3+ years.

The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure. The Durable Goods Orders report is produced by the Commerce Department.

Click here to view the full Commerce Department report (PDF).

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The 3 Majors Gained Today As The Fed Elected To Keep Interest Rates Steady

All 3 major indices advanced today as the Fed decided to keep interest rates at their current level. The Dow Jones Industrial Average (DJIA) closed with a brand new record high: 12,134.68. 1,830,141,800 shares were traded @ The New York Stock Exchange®.


Summary of The U.S. Markets:

----------------------------------------------------------

DJIA: Closed @ 12,134.68 (+6.80)

NASDAQ: Closed @ 2,356.59 (+11.75)

S&P 500: Closed @ 1,382.22 (+4.84)

----------------------------------------------------------

NYMEX Crude Oil Future is currently @ $61.64/barrel

NY Spot Gold is currently @ $589.40/ounce (+$2.20)

In New York, The U.S. Dollar buys 0.7926 Euros

In New York, The Euro buys 1.2618 U.S. Dollars

The U.S. Prime Rate (WSJ Prime Rate) is 8.25%

10-Year Treasury Note Yield is currently @ 4.773%

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Existing Home Sales for September, 2006

The Existing Home Sales report for September, 2006 was released by The National Association of Realtors® this morning:

Predicted: 6,200,000
Actual: 6,180,000

Median Price for A Preowned, Single-Family
Home In September, 2006: $219,800


The U.S. Existing Home Sales report is a sales count of existing homes, co-ops and condominiums for a given month. The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.

The monthly Existing Home Sales report is released on or around the 25^TH day of each month.

Click here to view the full NAR report.

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Crude Oil Inventories Report for Week of October 20, 2006

The U.S. Crude Oil Inventories report for the week that ended on October 20, 2006 was released this morning:

Weekly Change: -3,300,000 Barrels

Yearly Change: +15,900,000 Barrels

Current U.S. Crude Oil Stocks: 332,300,000 Barrels

Diminishing crude oil inventories can translate to higher crude oil prices (and vice versa), but not always.

The report is produced by the U.S. Energy Information Administration (EIA).

Click here for a more detailed summary of The Week in Petroleum.

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