A recent survey from the Chicago Federal Reserve Bank showed that economic activity is running a bit below its potential. The Chicago Fed National Activity Index improved slightly in October, but the three-month average declined. The report said that factory production, housing and consumer spending along with business orders mostly improved in October from September, while employment had a neutral effect. The three-month picture saw that inflation pressure from U.S. economic activity will be limited, said a spokesperson the the Chicago Fed.
The cost for a full Thanksgiving day meal fell modestly this year according to recent figures from the American Farm Bureau Federation. The prices for a classic Thanksgiving day dropped to $49.87 for 10 people, down from the all-time high of $50.11 registered in 2015. When adjusted for inflation, the cost of a Thanksgiving dinner for 10 is lower now than it was 31 years. A 16 pound turkey averaged $22.74 this year, down $0.30 from 2015.
The U.S. financial markets will be closed on Thursday for Thanksgiving. On Friday, the Bond markets will close early at 2:00 p.m. ET, while the Stock markets will close at 1:00 p.m. ET. Stock prices have been on a tear since the election results on November 8. The closely watched Dow Jones Industrial Average is trading at an all-time high on Monday at 18,916 as the new administration is seen as trying to cut regulations, increase infrastructure spending while at the same time lowering taxes.