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Morning Market Movers: What’s Going on With Markets This Morning?

Dec. 14, 2012 2:30am Becket Adams

Here’s what’s shaking:

U.S. Manufacturing:

Morning Market Movers: Whats Going on With Markets This Morning?

(Getty Images)

The Federal Reserve said Friday that factory output increased 1.1 percent in November from October. That offset a 1 percent decline in the previous month.

Total industrial output at factories, mines and utilities rose also rose 1.1 percent last month.

Auto production jumped 4.5 percent to lead widespread increases in factory output. It was the first increase in production at auto plants since July. Production of primary metals, wood products, electrical equipment and appliances all showed gains.

U.S. manufacturing activity shrank in November to the slowest pace since July 2009, according to a closely watched index of manufacturing activity compiled by the Institute for Supply Management.

Economists say the U.S. economy is growing in the current October-December quarter at an annual rate below 2 percent. That would be slower than the 2.7 percent growth rate in the July-September quarter and too weak to rapidly lower the unemployment rate.

China:

(Getty Images)

China’s manufacturing activity rose to a 14-month high in December, adding to signs the world’s second-largest economy is recovering, but export orders weakened, a survey showed Friday.

HSBC Corp. said the preliminary version of its monthly purchasing managers’ index rose to 50.9 on a 100-point scale on which numbers above 50 represent expanding activity. That was up from November’s 50.5.

The gains came despite unexpectedly weak November trade data that prompted suggestions China’s economic recovery might be shaky.

November export growth fell to 2.9 percent over a year earlier from the previous month’s 11.6 percent. Imports were flat, down from October’s 2.4 percent growth.

–

As of this writing, oil is up and U.S. stocks are mixed:

Oil:

(Getty Images)

The price of oil rose to near $87 a barrel Friday, boosted by a survey that showed the recovery in China’s manufacturing is gathering strength.

By early afternoon in Europe, benchmark crude for January delivery was up 83 cents to $86.72 a barrel in electronic trading on the New York Mercantile Exchange. The contract lost 88 cents to end at $85.89 per barrel in New York on Thursday.

A weaker U.S. currency makes crude cheaper – and a more attractive investment – for traders using other currencies. On Friday, the euro was up to $1.3092 from $1.3075 on Thursday.

Brent crude, used to set prices for international varieties of oil, rose 80 cents to $108.66 a barrel on the ICE Futures exchange in London.

Stocks:

(Getty Images)

Stocks are opening mixed on Wall Street after a drop in U.S. consumer prices and a strong survey of Chinese manufacturing failed to excite investors.

The Dow Jones industrial average was up three points at 13,174 shortly after the opening bell Friday. The Standard & Poor’s 500 index edged down two points to 1,417 and the Nasdaq composite lost 12 points to 2,979.

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The Associated Press contributed to this report.

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Comments (21)

michael from Ga.
Posted on December 14, 2012 at 2:33pm
The same group of individuals that have taken control of this discretionary monetary economy, caused the first great depression, and this one. The real numbers do not lie.

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Walkabout
Posted on December 14, 2012 at 1:55pm
1. If you have a $100 dollars & lose 50%, you have $50.
2. If you now gain 50% on your many you have $75.
3. You are still done 25% from where you were.

So how does this make you happy?

“The Federal Reserve said Friday that factory output increased 1.1 percent in November from October. That offset a 1 percent decline in the previous month”

This means nothing. A moving average of factory output would show a flat line at best.

People are on the sidelines. occasionally they have to restock a little. That restocking blip is taken as signs of recovery. Not even close.

We need to get rid of the Democrats by voting them out of office. We need to lower tax rates, maybe not all at once but gradually in steps to about 20%. We need to stop class warfare rhetoric. We need a President to say “Morning in America” & mean it. What f/ckercrats don’t realize is that Economics is Applied Psychology. So what kind of m/ron say that “you didn’t build that” and a dollar that you earn after working 41 hours is going to be taxed higher than a dollar that you earn a hour 40?

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MrKnowItAll
Posted on December 14, 2012 at 12:18pm
PLEASE!!!!! Do not be fooled in the drop in Silver and Gold Prices the last couple days. I only buy it for my family’s protection. So I make nothing by telling you Gold and Silver are GOING UP big time. It will happen very quickly. Please get your hand on at least small amounts. I buy silver dimes from e bay. Affordable for just about anyone to buy a small piece here and there. It Adds up. Truth is… Silver and Gold have dropped and Foreign Country’s are BUYING like there is no tomorrow. Thank Me Later.

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- revelation2012
  Posted on December 14, 2012 at 9:26pm
  the government has taken GOLD away from the people before
  
  I find it HARD to believe that Congress and the Supreme Court
  
  are sitting on their ‘hands’ and allowing the destruction of our country,,,
  
  we know how ‘O’ feels about the United States of America
  
  Report this comment
AmericanFightingMan1
Posted on December 14, 2012 at 12:14pm
America is now a clown show on parade.

We have a dope-smoking, never-had-a-real-job bozo, quasi-marxist as POTUS.

Our manufacturing base has been gutted by a plan launched at the end of WWII (General Agreement on Tariffs and Trade, ie., GATT, that brought us NAFTA) to eradicate nations thru trade realignments.

Our children are now 50 years into being indoctrinated by the marxist clowns who infiltrated our schools starting in the 1920′s and progressively (no pun intended) expanded their influence until the present day to the point where they own the whole deal.

The best thing that can happen to people who love their country is to have this fiscal cliff, an economic collapse set off a chain reaction to take our country back. On the other side of all this, after much pain, those who remain need to enshrine these lessons so that we NEVER repeat this garbage again.

It’s a clown show now folks. No reason to salvage that which does not deserve rescuing.

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- Trigus
  Posted on December 14, 2012 at 12:49pm
  I agree. The best thing that can happen to this country is the fiscal cliff.
  
  Report this comment
- Shasta
  Posted on December 14, 2012 at 2:29pm
  Is the probably that we have “a dope-smoking, never-had-a-real-job bozo, quasi-marxist as POTUS”, or is the problem that we have a dope-smoking, never-had-a-real-job bozo, quasi-marxist, CHILD as POTUS
  
  Report this comment
- 4theThinMan
  Posted on December 14, 2012 at 3:50pm
  You are wrong – the best thing that could happen is NOT the “fiscal cliff” – it’s political cliff – and pushing the Socialist Democrats over into the ditch.
  
  Report this comment
- revelation2012
  Posted on December 14, 2012 at 9:17pm
  bernake is UP to NO Good – he’s buying our ‘debt’
  
  for the banking cartel – what happens
  
  when we do go over the so called ‘cliff’
  
  what happens when ‘they’ call for ALL DEBT to be paid,,,
  
  Report this comment
overthecliff
Posted on December 14, 2012 at 12:06pm
2016 US debt will be 20-22 trillion dollars no matter what they come up with. We are entering the 4th turning crisis.

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- AmericanFightingMan1
  Posted on December 14, 2012 at 12:15pm
  Yep. Those who are smart are well into prepping. Those who aren’t, well, sowing and reaping kind of thang.
  
  Report this comment
atechgeek
Posted on December 14, 2012 at 12:05pm
It’s all BS .. besides .. we are all dead in a week.

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- bald stick
  Posted on December 14, 2012 at 8:19pm
  THANK YOU! I’m heading to the Ferrari dealer tomorrow. I hope they have a “sign and drive” sale going on.
  
  Report this comment
BasketFullOfPuppies
Posted on December 14, 2012 at 11:30am
China interests me the most. The manufacturing may continue to rebound. But, if there is no market outside China, we may see the shelves in those “ghost malls and cities” start to fill up with product for which there are no buyers.

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Joe_The_Patriot
Posted on December 14, 2012 at 11:13am
It’s amazing how what would normally be dismal numbers across the board are being touted as if we are going gang busters with work and opportunity… What a joke…. I have a friend from china who told me when he came to america the US dollar was worth 10 chinese, now it’s 1 dollar to 6 chinese.. a 40% decline even with china manipulating it’s currency… Now we are on the cusp of QE4, Major regulations, Tax increases…. What do people think is going to happen??

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KawiRider2K3
Posted on December 14, 2012 at 11:12am
Prices down? Chicken went up a buck with in the last 10 days, milk up .50 during the same time period in my area. The only thing that went down was gas by 20 cents.

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dublinthewagons
Posted on December 14, 2012 at 10:56am
Thank goodness china’s economy is recovering. We need to send them our unions.

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contkmi
Posted on December 14, 2012 at 10:44am
Good grief, that’s awful manufacturing news.

I thought the recession was over. Aren’t we supposed to be on the right track? Isn’t the economy turning a corner?

The sheeple bought into the lies.

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- Cavallo
  Posted on December 14, 2012 at 11:21am
  But but but… its not getting as worse as fast! We’re slowly down slightly in our decline! Whooopeeee!
  
  Report this comment
Snowleopard {gallery of cat folks}
Posted on December 14, 2012 at 10:43am
I wonder what the markets will do on Jan 2nd, and Obama on Jan 3rd?

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- Cavallo
  Posted on December 14, 2012 at 11:10am
  I doubt much on Jan 2. I still thing there will be a half @ssed deal that screws us all over to avoid the fiscal cliff. We need to go over this thing and even the cliff isn’t enough to fix the problem. We’ll still be spending more than we take in.
  
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