- US weekly initial claims fall to 492k (better, 575k), prior 586k
- Consumer confidence index fall to 38.0 (worse, 45.5), prior 44.7 Nothing special this week
Typically, stock market will fall on Jan, which will give us another opportunity to buy & hold. Let's see.
Auto industry:
It is still under the cloud, as Toyota warns it will have operating loss in 09; On the other hand, GM & Chrysler received total of $17.4B from US government will give a little relief to the industry, unemployment rate as well as the economy. However, further support is needed. Thanks to oil price fall, at least it won't make the new car sales to get worse. The industry can also defer their project/plan on fuel efficient/bio-energy investigation and development. Of course, to Green party, that is not a good news.
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