Quick Overview

• According to Dow Trend Earnings (aka Fed model) the Dow should be trading at $45,769

• "Trust me" is not enough of a safeguard, says Amnesty International, as Obama signs the NDAA into law.

• Hot, dry weather in South America continues to raise concerns about potential yield losses.

• US Manufacturing improves to 53.9 in December vs 52.7 in November.

• The Chinese purchasing managers index (PMI), rose to 50.3 in December from 49 in November, indicating a slight expansion in business activity in China's vast factory sector.

• New polling data from Lawrence Hamilton, of the Carsey Institute at the University of New Hampshire, suggests that the “anti-science” epithet really does apply to many U.S. Republicans—at least on environmental issues.