This was a light week for economic data. The Empire (NY) Manufacturing Index for December came in lower at 10.3 versus 20.0, the Philly Index also disappointed at -5.7 versus 6.0 later on the week and the now irrelevant final revision for 3Q GDP was reported, in-line, at 4.9%.
Investors received a mild positive on Friday, with Personal Spending for November higher than expected at 1.1% versus 0.7% and the Core PCE Deflator was also higher at 2.2% versus 2% year-over-year. Don't tell the Fed and Santa!
The major indices finished the week higher:
Russell 2000 +4.17%
Nasdaq +2.13%
S&P500 +1.13%
Dow Jones +0.83%
The US Dollar finished slightly higher at 77.72 and gold finished the week at $815.40, up $17.40 on renewed inflation worries as oil rallied up $2.06 on the week.
Check out next week's calendar at:
http://www.bloomberg.com/markets/ecalendar/index.html
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