Market Analysis

Bonds are weaker and stocks up today on very light trading in front of the holiday weekend.

In economic news, November Durable Goods orders came in up 3.8% vs expectations for a 2.0% increase.  Durable Goods ex-transporation came in up .3% which matched expectations.  November Personal Income and Spending were both up .1% which was lower than the .2% increase expected for Income and .3% expected for Spending.  November New Home Sales came in at an annualized pace of 315,000 which was slightly higher than the 310,000 expected.