Quick Overview

• The U.S. ISM rose in December to 52.6% from November's 52.0%, a reading that nonetheless was below the 53.3% expected.

• The DOE said in the week ended Dec. 30:
• Oil supplies rose 2.2 million barrels
• Gasoline inventories rose 2.5 million,
• Distillates supplies rose 3.2 million barrels.

• YoY BMW U.S. sales rose 17.9%

• It is hot in Australia and they’re running low on soft-drinks (The decade to 2011 was the hottest on record)

• The number of Americans claiming weekly unemployment benefits fell 15,000 to 372,000 last week, the lowest level since the summer of 2008.

• Spanish banks will need to find an extra €50bn to cover potential losses from property loans, the Financial Times reported