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Positive Start

January 3, 2012 – 5:55 pm

This will be another week of little economic data with a couple exceptions. This morning’s ISM (Institute of Supply Management) for December was up to 53.9%, better than expected which was 53.4 and better than last month’s at 52.7 That was a 6 month high.

Also, overseas numbers were better than expected which started the market off on a strongly positive note. So far Europe, the area in the world with the most trouble, is staying off the front page. The other major report will be released on Friday. It is the December jobs report. The expectation is for another 150,000 new jobs with a small uptick in the unemployment rate. That is not nearly enough jobs but job growth rather than shrinkage is still intact.

This morning’s strong market is a good start for the year but it is only one day and just a start. Most experts see Europe as a continuing problem in 2012, one that requires a lot more attention and many do not think there is the political will to fix the problem without more structural changes in the EU. Expect Europe to continue to affect our stock market in the new year.

Good Trading
Steve Peasley

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