http://MikesDailyMarketReport.com: Weekly Jobless Claims scaled back from the previous reporting to 213k people applying for first time benefits. The GDP's 2nd revision for the Q3 came in a little higher, from 1.9% to 2.1%. We'll see the final revision next month! Durable Goods Orders (including the data without Transportation) rose 0.6% in October, as many expected another decline. The manufacturing in the Chicago region improved a little, even though it's still in contraction territory, as the Chicago PMI came in from 43.2 to 46.3 in November. Personal Income remained Unchanged in October; however, Consumer Spending rose 0.3%, wihich hopefully is a good indicator heading into the Holiday Season! The Personal Consumption Expenditure rose 0.2% in October, while it's YoY remained at 1.3%; however the Core PCE (without Food or Energy, and the Fed's favorite gauge for inflation) rose 0.1%, and it's YoY dropped from 1.7% to 1.6% -The Fed is targeting for a 2.0% rate! Pending Home Sales dropped 1.7% in October, which NAR attributed it to lack of inventory and slightly higher rates in October from previous month. Stocks are in Positive Territory based on today's data. MBS is Down 14bps, so Mortgage Rates have worsened a little bit today. Yields have climbed it's way Up to 1.76%.
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