Unemployment Claims Rise Slightly Amid Steady Layoffs
The Labor Department reports jobless benefit applications rose by 18 000 to 251 000 last week while the four week average fell to 251 000. Total unemployment checks declined to 2.04 million from a year earlier as hiring slows and wages show gains.
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Weekend travel surges as Thanksgiving pause nears
Travelers flood roads rails and skies for the busiest Thanksgiving period since 2007 with about 49 million expected to travel 50 miles or more between Wednesday and Sunday. Amtrak adds trains while weather cooperates and delays remain minimal amid a national focus away from the election.
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Setback for Lilly Alzheimer's drug slows development again
Indianapolis based Eli Lilly reported another trial failure for solanezumab in over 2100 participants, delaying hopes to slow Alzheimer's progression. Experts note prior mixed results and ongoing studies in rare inherited cases and prevention, with multiple similar drugs in late-stage testing.
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Machinery fuels a higher Dow as markets ease before Thanksgiving
The Dow Jones and S P 500 rise to fresh levels in a quiet pre holiday session led by industrials after Deere reports stronger profit. Boeing and Caterpillar advanced while HP warned of weaker profits sending tech hardware shares lower. The Russell 2000 hits a 1996 high and the Nasdaq slips slightly as trading winds down for the holiday.
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