Market Recap.01.04.11

FOMC Minutes (cliick to go to Federal Reserve website)

"To promote a stronger pace of economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate, the Committee decided today to continue expanding its holdings of securities as announced in November. The Committee will maintain its existing policy of reinvesting principal payments from its securities holdings. In addition, the Committee intends to purchase $600 billion of longer-term Treasury securities by the end of the second quarter of 2011, a pace of about $75 billion per month. The Committee will regularly review the pace of its securities purchases and the overall size of the asset-purchase program in light of incoming information and will adjust the program as needed to best foster maximum employment and price stability. "


 Factory Orders (Click to view details)



Factory Orders Prior=-0.7% Est=-0.3 Act=+0.7

Transportation orders were stronger-than-expected and recent economic reports continue show that the economy is slowly gaining strength.


Weekly Sales Reports
Goldman w/w Prior =+1.0% Latest = +0.4%
Goldman y/y  Prior = +4.8% Latest = +3.6%
Redbook w/w Prior = +4.6% Latest = + 3.5% 
Weekly retail sales reports came in better-than-expected, as shoppers made it stores despite the weather.

Metropolitan Area Employment and Unemployment Summary
(Click to go to BLSwebsite)

METROPOLITAN AREA EMPLOYMENT AND UNEMPLOYMENT -- NOVEMBER 2010



Unemployment rates were higher in November than a year earlier in 182 of the 372
metropolitan areas, lower in 166 areas, and unchanged in 24 areas, the U.S. Bureau
of Labor Statistics reported today. Thirteen areas recorded jobless rates of at
least 15.0 percent, while 11 areas registered rates of less than 5.0 percent. One
hundred eighty metropolitan areas reported over-the-year increases in nonfarm pay-
roll employment, 176 reported decreases, and 16 had no change. The national unem-
ployment rate in November was 9.3 percent, not seasonally adjusted, compared with
9.4 percent a year earlier.




Commodity Overview
The improvment in the global economic landscape could lead to portfolio rebalancing, as investors move back to equities and reduce their "alternative investment" holdings> (Gold, oil, commodities) 
Energies -1.6% Metals -2.64% Grains, -1.25%