Prior week initial jobless claims revised to 218K vs 216Kinitial jobless claims 221K vs 221K estimate4-week moving average of initial jobless claims 227.25K vs 237.0K last week.Prior week of continuing claims 1.862M revised to 1.853MContinuing claims 1,892M vs 1.875M est4-week moving average of continuing claims 1.876M vs 1.867M last weekThe largest increases in initial claims for the week ending October 26 were in New York (+1,983), Michigan (+1,722),
Illinois (+1,066), Texas (+757), and Ohio (+706),The largest decreases were in North Carolina (-2,859), Florida
(-2,429), California (-1,876), Virginia (-824), and Washington (-698).
Looking at the US debt market, yields are lower in the short end and modestly higher in the long end:
2- year yield 4.241%, -2.7 basis points5- year yield 4.247%, -2.4 basis points10 year yield 4.415%, -1.0 basis points30 year yield 4.605%, +0.5 basis points
Looking at the premarket for US stocks, the post election rally has continued.:
Dow industrial average positive 40.07 points. Yesterday the Dow industrial average rose 3.57%, its largest increase since 3.7% on November 10, 2023S&P index +13.96 points. Yesterday index rose to 2.53%, it’s largest increase since 3.1% on November 30, 2022NASDAQ index +84.42 points. Yesterday, the index rose 2.95%, it’s largest increase since 2.96% on February 22, 2024..
This article was written by Greg Michalowski at www.forexlive.com.
