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Market Brief – Thursday 1/6/22

Stocks fell in overnight trading but were trying to fight higher in early trading. Treasury yields rose again in overnight trading and were slightly higher in early trading.

Challenger job cuts rose 19.052k in December.

Initial unemployment claims rose +207k last week and total claims fell -199k to 1.722 million.

Exports rose slightly to $224.2 billion and imports rose to $304.4 billion.

Durable goods new orders excluding defense rose +2.0%, factory orders rose +1.6%, and factory orders excluding transportation rose +0.8% in November.

The “official” ISM Non-Manufacturing PMI expanded at a slower rate in December from 69.1 to 62.0. Business activity, employment, and new orders slowed, while prices paid were unchanged.

Stocks and Treasury yields closed slightly lower on the day.