November 30, 2020
PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia discusses this week’s numbers as we enter the month of December.
“The Dow and the S&P are both up 2.2 percent on the week. The NASDAQ composite increased 3 percent on the week—some very good numbers, to say the least, and volume was moderate. It looks like this week could be more of the same. There’s a lot of focus in and around the vaccine. Will there be a vaccine? That is one of the questions everybody is most concerned about. Some lawmakers are saying that we really do need to get some sort of aid package done, even if it’s a small one. I don’t think that will happen, to be honest.
“We kick off December on Tuesday with ISM manufacturing numbers. They’re sitting at 59.3. I think there’s a good possibility that we could go over 59. That would be an amazing number. It’s a November number. Construction spending also comes out, but that’s an October number—looking backward a little bit too far, as far back as October. I’m sure October number’s going to come in pretty good, based on the home sale numbers that we saw.
“Of course, we get the ADP employment number coming out for the month of November. That’ll be out on Wednesday, and then on Thursday we’ll get initial jobless claims and continued claims on Friday. The big number is nonfarm payrolls. That’s the one everybody is watching for. It’s expected to be down, even though it’s a November number. One would have to think that there’s some seasonal hiring, but that seasonal hiring might not have an impact until next month. Unemployment rates are expected to come in at 6.8 percent. Average hourly earnings will be coming out as well. That’s expected to be up slightly.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.
Read more about Celia, FISM and “Financial Issues” or visit the FISM website, its Facebook page, on YouTube at Financial Issues with Dan Celia or on Twitter @financialissues; download the FISM app here.
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