Quick Overview

• The Commerce Department reported that new home sales rose by 13 percent in October to a record 1.424 million and more than expected. The big jump came from the western and northeastern regions. YoY, new home sales are up 7.6%.
  

• U.S. Durable goods orders were up 3.4% in October, more than expected. Excluding transportation however, orders were up 0.3%, less than expected.
  

• The Conference Board, said its consumer confidence index rose to 98.9 this month, the biggest rise in more than two years.
  

• The Chicago Federal Reserve's manufacturing index increased from 104.7 to 106.6 in October.
  

• Australia upped the estimate of its 2005-2006 wheat crop to 24.1 from 19.7 million tons. Last year Australia harvested 20.4 million tons of wheat.
  

• Japans household spending increased 1.2% in October.
  Japans industrial production was up 0.6%.
  Japans October unemployment rate increased from 4.2% to 4.5%.
  

• Gold prices closed above $500 an ounce in Asian trading for the first time since late 1987, driven by investor demand for the metal as a diversifying asset.
  

• Calpine Corp. replaced its longtime chief executive as well as its chief financial officer in a shake up that sent the company's stock price below $1.

• The USDA said that U.S. Cotton stocks for 2005/06 are forecast to rise 1 million bales to 6.5 million by season’s end, resulting in a stocks-to-use ratio of 29 percent and the highest in 4 years.

• YoY Surface trade among the United States, Canada and Mexico rose 11.4% in September to $61.2 billion, a second straight all-time monthly record, the DoT said Tuesday.