Jobless claims fall but remain near low levels
Washington reports initial unemployment claims dropped 23 000 to 333 000 for the week ending December 23 the lowest since early December. Analysts warn holidays may skew data with revisions possible next week while the four week moving average slid to 340 750 the lowest since November 18. The unemployment rate stands at 4.0 percent as growth slows and wage pressure remains a concern for the Fed’s rate path.
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Stocks End Higher As Dow Surges Fifth Day In A Row
Stocks closed higher as investors weighed earnings, the economy and taxes amid waning consumer confidence. Bargain buying boosted the Dow by 65.60 to 10,868.76 while tech lagged, the Nasdaq rose 18.18 to 2,557.53 and the S&P gained 5.27 to 1,334.19.
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