You gotta love the Holidays!
They seem to make us do irrational things... JUST BECAUSE lol
In keeping up with that theme the market is behaving as such. Initial unemployment claims are getting close to the 300k mark actual numbers reported are up 12k over expectations and the continuing claims rose nearly 100k yet our rates do not improve they are actually a few tics below yesterdays awful close so... Happy Holidays!
just kidding but in all seriousness I HAVE to believe the markets are going to recover and move in the improvement direction but I think the "hopes" or expectation of a possible Fed overnight funds rate hike has kept those gains at bay.
here is today's data and hope you all had a fantastic 2015 and enjoy your Holidays!!
U.S. Import Prices declined in November led by a stronger dollar and plunging oil prices. The Import Price Index for November exhibited a 0.40% loss (consensus -0.80%) and October was revised up from -0.50% to -0.30%. The turmoil in oil prices was the primary culprit contributing to the deflationary pressure, down 2.50% last month. Import Prices are down 9.40% YoY vs. a 10.70% decline in October. Initial Jobless Claims rose the highest level in five months, at 282K (consensus 270K) vs. 269K prior. This is the 40th consecutive week of claims below 300K. Continuing Claims rose to 2243K vs. 2161K prior. Treasuries remain at yesterday’s close levels following the data release and the curve has flattened