Treasury Announces Details Of Two-Year, Five-Year & Seven-Year Note Auctions

Optical Cable Corp. Q4 Earnings Summary

Below are the earnings highlights for Optical Cable Corp. (OCC):

Earnings: $1.189 million in Q4 vs. -$0.006 million in the same period last year.
EPS: $0.15 in Q4 vs. $0.00 in the same period last year.
Revenue: $20.056 million in Q4 vs. $15.884 million in the same period last year.

Ronnie Hillman dies: How the sports world reacted on Twitter

Ronnie Hillman, who was selected by the Broncos in the third round of the 2012 NFL draft and a member of the team’s Super Bowl 50-winning squad, died Wednesday, according to his family. He was 31.

In four seasons in Denver, he totaled 453 carries for 1,845 yards rushing and 12 touchdowns. During the team’s Super Bowl-winning season, he led the Broncos in yards rushing (863) and rushing touchdowns (7) during the regular season.

Here’s a look at how the world of sports reacted to his passing on social media:

Cleveland-Cliffs Gains 10% On Higher Annual Price Expectation For Steel

Cleveland-Cliffs Inc. (CLF) shares are adding more than 10 percent on Thursday morning trade after the company said Cliffs will achieve higher annual fixed prices for steel in the calendar year 2023 compared to 2022.

The flat-rolled steel producer expects an average selling price of approximately $1,400 per net ton in 2023 from its direct carbon steel automotive customers, compared to the expected price of approximately $1,300 per net ton.

Separately, Cliffs expects significantly lower Steelmaking unit costs in 2023 compared to 2022.

Currently, shares are at $16.67, up 10.21 percent from the previous close of $15.13 on a volume of 6,536,053.

U.S. Business Inventories Rise 0.3% In October, Slightly Less Than Expected

With increases in manufacturing and wholesale inventories partly offset by a dip in retail inventories, the Commerce Department released a report on Thursday showing U.S. business inventories rose by slightly less than expected in the month of October.

The Commerce Department said business inventories rose by 0.3 percent in October after inching up by a revised 0.2 percent in September.

Economists had expected business inventories to climb by 0.4 percent, matching the increase originally reported for the previous month.

The report showed manufacturing and wholesale inventories both increased by 0.5 percent in October, while retail inventories edged down by 0.2 percent.

Meanwhile, the Commerce Department said business sales advanced by 0.8 percent in October after coming in unchanged in September.

Retail sales jumped by 1.3 percent during the month, while manufacturing sales increased by 0.7 percent and wholesale sales rose by 0.4 percent.

Reflecting the increases in both inventories and sales, the total business inventories/sales ratio was unchanged from the previous month at 1.33.

European Economics News Preview: UK Revised GDP Data Due

Quarterly national accounts data from the UK is the top economic news due on Thursday.

At 2.00 am ET, the Office for National Statistics releases UK final GDP data for the third quarter. The preliminary estimates showed that the economy contracted 0.2 percent sequentially, offsetting the 0.2 percent increase a quarter ago. The statistical office is set to confirm the preliminary estimate.

In the meantime, Statistics Sweden is set to publish producer prices and retail sales for November. Sales had decreased 1.3 percent on month in October.

At 3.00 am ET, final foreign trade data is due from Hungary.

At 4.00 am ET, Italy’s Istat is scheduled to issue industrial turnover data for October. Sales had declined 1.2 percent on month in September.

Sundance Spas Recalls Jacuzzi And Sundance Spas Brand Hot Tubs

Sundance Spas has recalled about 23,700 Jacuzzi and Sundance Spas brand hot tubs due to injury and thermal burn hazards.

According to the Consumer Product Safety Commission, the temperature sensor can relay incorrect water temperatures and cause the water to be hotter than the set temperature, posing injury (heat stroke) and thermal burn hazards.

The company said it has received 185 reports of inaccurate temperature readings, however, no injuries have been reported.

Sundance Spas has asked its customers to use an accurate external thermometer to confirm the water temperature to be no higher than 104 degrees prior to entering the hot tub to prevent injuries and burns. Consumers should not enter the recalled hot tubs if the external thermometer temperature reads higher than 104 degrees.

The recall involves JacuzziJ-200, J-300, J-400 and J-500 collection hot tubs and Sundance Spas 680, 780, 880 and 980 Series spas. The products were sold at authorized Sundance Spas or Jacuzzi Hot Tubs dealers nationwide from July 2021 through December 2022 for between $6,500 and $30,000.

PHOTOS: Denver sees snow and frigid temperatures as Siberian cold front sweeps in – The Denver Post

After a Siberian cold front sent temperatures plummeting Wednesday evening, Denver is expected to have one of its coldest days on record Thursday.

Temperatures at Denver International Airport dropped to -24 degrees Thursday morning, according to the National Weather Service in Boulder, marking the coldest day in December since 1990 and one degree away from that record.

Treasury Announces Details Of Two-Year, Five-Year & Seven-Year Note Auctions

The Treasury Department on Thursday announced the details of this month’s auctions of two-year, five-year and seven-year notes.

The Treasury revealed it plans to sell $42 billion worth of two-year notes, $43 billion worth of five-year notes and $35 billion worth of seven-year notes.

The results of the two-year note auction will be announced next Tuesday, the results of the five-year note auction will be announced next Wednesday and the results of the seven-year note auction will be announced next Thursday.

Last month, the Treasury also sold $42 billion worth of two-year notes, $43 billion worth of five-year notes and $35 billion worth of seven-year notes.

The two-year note auction attracted slightly above average demand, while the five-year and seven-year notes auctions attracted below average demand.