- The Institute for Supply Management's manufacturing index dropped to 47.7 from 50.8, the lowest reading since April 2003.
- Construction spending rose 0.1% in November, the Commerce Department reported Wednesday.
- The average price of diesel fuel rose 3.7 cents to $3.345 a gallon, while gasoline rose 7.3 cents to $3.053, the DoE said.
- Oil rose to a record $100 on geopolitical turmoil, tight energy stockpiles, and a weak dollar.
- U.S. class 8 truck sales continued soft in November, with original equipment manufacturers selling 10,309 vehicles — down 54.3% YoY.
- India reduced import duties on vegetable oils from countries of the South Asian Free Trade Agreement. The import duty on refined vegetable oils of edible grade has been reduced to 20% from the earlier 52.5% for imports from Pakistan and Sri Lanka, while imports from the other four SAFTA countries will be duty free, versus 26.25% previously.
- Scientists are on the verge of decoding the special chemical language that bacteria use to "talk" to each other, British researchers report. The research could lead to new treatments for antibiotic-resistant bacteria, including "superbugs" that infect more than 90,000 people in the United States each...
- Dec. 31
U.S. existing home sales unexpectedly rose 0.4% in November to an annual rate of 5.0 million units. YoY home sales are down 20%. - Dec. 30
(Bloomberg) -- China, the world's biggest grain producer, will tax exports of wheat, corn and rice to increase domestic supply and control rising food prices. Exporters of wheat will start paying a 20 percent tax on Jan. 1, while the tax for corn and rice was set at 5 percent..
Beijing approved the launch of China’s first gold futures contracts, with simulated trading on the Shanghai Futures Exchange.
- Dec. 28
U.S. new home sales fell 9.0% MoM. YoY new home sales are down 25%.
The Chicago purchasing managers' index increased from 52.9 to 56.6 in December, stronger than expected. The December of 2008 eurodollars closed up .14 at 96.565, influenced more by today's weak home sales figures.
As of January 1st, Brazil will require at least 2% of all diesel fuel to be biodiesel.
The U.S. Department of Energy said that underground supplies of natural gas dropped 165 billion cubic feet last week to 3.008 trillion cubic feet. Supplies are now down 4% YoY and up 8% from the five-year average.
Japans consumer rose 0.6% YoY, the biggest rise in nine years.
Japans unemployment rate improved from 4.0% to 3.8% in November, better than expected.
Japans industrial production fell 1.6% in November.