Investors are pleased with today's economic data announcements.
First time weekly unemployment claims fell to a paltry 466,000. That number would roughly be the population of the entire city of Sacremento, or Cleveland, or if you prefer Kansas City.
Hey at least its not getting worse...
Reuters: Stocks rise after improved jobs, housing data
Sales of newly built U.S. single-family homes rose to their highest level in a year in October. Also, consumer spending increased more than expected, while new claims for jobless benefits fell sharply, suggesting the recovery was gaining traction.CNN: Jobless claims plummet to 14-month low
The number of first-time filers for unemployment insurance fell to 466,000, the lowest level in 14 months, according to a government report released Wednesday.
2 comments:
I wouldn't get to excited about the jobs number yet. Every time they say it's lower a few weeks later it's corrected back up. Of course nobody notices that right? Things are not improving out here much if @ all.
Announcements are made to influence the markets and the markets seem to be willing to play ball.
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