Markets Can’t Gain on Manufacturing Data, End Mixed (GM, F)

Stocks followed a great start on the first trading day of the year with a mixed day, despite encouraging economic reports. Manufacturing orders increased last month, and auto sales by General Motors (GM) and Ford (F) increased in December, as well, but neither report can help swing the market upward. Investors are unsettled by the Federal Reserve’s lack of agreement on the direction of the economy. The bond buyback plan appears it will continue on the same route, neither ramping up or decreasing efforts to stimulate the economy. Another worrisome note came in the form of unemployment as two thirds of metro areas reported an increase in joblessness in November.

Word on the Street

• The Dow reaches multi year high as stocks end mixed on un-optimistic outlook by the Federal Reserve.
• Unemployment rates rose sharply in two thirds of metro areas in November, it’s largest spike since June.
• Federal Reserve members appear divided over economic outlook, not expected to change course anytime soon.
• Ford (F) displaces Toyota (TM) as the second highest selling automobile brand in the US behind General Motors (GM).
• The IRS announced taxpayers will have three addition days to submit their tax returns, moving from April 15 to April 18.
• Crude oil declines highest in 7 weeks, metals follow suit and the US dollar gains.
• Cisco (CSCO) reports disappointing earnings – will the tech firm struggle in 2011?

Interesting Tidbits

• The post holiday blues can be tough to overcome at work, but there’s a way to avoid starting the new year off on the wrong foot.
• New year, same boring job? Take these steps to jump start your current position.
• The highly digital world can lead to distractions and a general loss of efficiency – so try these six tactics to reduce the noise around you.

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