At the December meeting, the U.S. Federal Reserve Open Market Committee voted by majority to reduce the Fed funds rate by another -0.25% to a new range of 3.50-3.75%.

The economic data release schedule has begun to normalize, with last week showing gains in personal income and spending, ISM services, industrial production, and consumer sentiment. These offset the weaker ISM manufacturing and ADP employment reports.

On a short holiday week, economic data included gains in retail sales and durable goods orders, as well as higher producer price readings, decelerating home prices, and continued weak consumer confidence.

Economic data began to slowly flow again, following the record-long government shutdown, although scheduling remains delayed for a variety of releases.

Economic data remained sparce last week, but as the federal government shutdown ended, coming weeks should see a more normal report flow.

Economic data was again limited due to the federal government shutdown, but included improvements in ISM services and ADP employment, while ISM manufacturing and consumer sentiment fell back to varying degrees.