
Car sales should show economic engine running
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November car sales should be robust, confirming the trend of an improving economy and a consumer who's willing to spend. Vehicle sales for November are expected to come in at an
annualized selling pace of 16.7 million to 17 million, above the current full year rate of 16.5 million. Chrysler, the first automaker to report November sales early Tuesday, saw sales jump
20 percent, as low gas prices and Black Friday promotions boosted traffic. Read MoreBlack Friday car sales explode That comes in the face of spotty economic data from last week that missed
the mark and the National Retail Federation's disappointing report that Black Friday weekend sales fell 11 percent. "(Stocks) started off trading on the retail report that looked
kind of funky," said Mark Luschini, chief investment strategist at Janney Montgomery. He said the Black Friday report likely reflected a shopping pattern that includes more online
shopping and holiday spending over a longer period of time. He said the fact that the ISM manufacturing report Monday was nearly flat last month was a positive. It fell slightly to 58.7 from
a 3½ year high of 59 in October. Getty Images But inside that number, new orders rose to the highest level since August and export growth increased—positive signs for the economy. Luschini
said the market has been worrying that the U.S. economy was sliding with overseas economies, after last week's string of disappointing data, including weaker-than-expected personal
spending and durable goods reports. Bond yields moved slightly higher Monday with bond prices dropping for the first time in seven sessions, in part because of the stronger ISM report stood
in contrast to weaker manufacturing data from Europe and China. Traders said the market also responded slightly to comments from New York Fed President William Dudley that the Fed could
begin to raise rates in the middle of next year. The was down 14 at 2,053, but oil rebounded more than 4 percent to $69 barrel after U.S. crude skidded 10 percent Friday. Gold also recovered
from an overnightsell off, finishing up more than 3.5 percent . Read More Traders will be watching more Fed speak Tuesday, with Fed Gov. Lael Brainard speaking at noon EST on economic
growth and other matters. WHAT ELSE TO WATCH TUESDAY Earnings: Bank of Montreal, Bob Evans November car sales 8:30 a.m. Fed Chair Janet Yellen greets students at Fed 10 a.m.: Construction
spending