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Post: Monday - Here comes Santa Claus? | Daily Delphi

BlogsPit Talk › Monday - Here comes Santa Claus? December 23, 2013, 6:50 am

TODAY'S ACTION
7:30 AM CT
Personal Income
Forecast 0.5% Prior -0.1%
Personal Spending
Forecast 0.6% Prior 0.3%
PCE Prices
Forecast 0.1% Prior 0.1%
9:55 AM CT
Michigan Sentiment
Forecast 83.4 Prior 82.5

Today is the beginning of an abbreviated holiday week with only 5 regular trading days left in the year. Normally at this point traders would expect very thin holiday markets. Although the last half of last week saw lighter than normal volumes the trade was still strong and directional. That might be enough to keep a few extra traders at their desk as we enter the 52nd trading week of the year. With a couple of strong numbers this morning we would like to see an extension of the Santa Claus rally. Trade strong.

FRIDAY RECAP
Equities and commodities got a boost out of Friday's better than expected 3rd quarter GDP. The number came in at 4.1% versus the expected 3.6% resulting in across the board gains. The Dow closed up +.26% at 16,221.40, the S&P closed up +12.40 at 1814.50, gold up +10.1 at 1203.7 and oil ended up +.28 at 99.32. That's a lot of green any way you look at it.


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