Markets Sell On Europe – January 4th

Markets are taking a little breather out of the gate this morning after yesterday’s New Year rally. Since 1945, a positive January in an election year has never missed in predicting a full-year gain for the S&P 500, with an average 16% gain. So stay tuned.

In US economic data November factory orders jumped 1.8% in November. Meanwhile loan demand to buy homes and refinance mortgages fell 4.1% in the last week of 2011.

The S & P 500 is down 7 and the NASDAQ is down 17.

West Texas Crude is up another two bits to $103.25 barrel.

Gold continues to rally up $12 to $1612 a Troy ounce.

The Euro has slipped below the $1.30 mark versus the US Dollar.

Portland based Columbia Sportswear has purchased a new Canadian headquarters. The company will pay $26 million for the 750,000 square foot space and consolidate 120 existing employees there. Canada accounts for about 8% of Columbia’s $1.2 billion in sales.

Oregon has lost another publically held company as McCormick & Schmick’s Seafood Restaurants goes private and becomes part of the Texas based Fertitta restaurant empire. M&S was Oregon’s 18th largest publically held company.


Financial Focus • January 4, 2012

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