Treasury Yields Are Rising
Treasury yields are climbing sharply on expectations of strong fiscal stimulus from the incoming Trump administration.
Jobless Claims in U.S. Decline to Lowest Level in Four Decades
Jobless claims dropped by 19,000 to 235,000 in the week ended Nov. 12, which included the Veterans Day holiday, a Labor Department report showed Thursday in Washington. The median estimate in a Bloomberg survey called for an increase to 257,000. Continuing claims fell below 2M to a 16-year low.
The fewest Americans since 1973 filed for unemployment benefits last week, a sign that the U.S. labor market is getting tighter.
U.S. housing starts surged to a 9-year high in October as builders ramped up construction of both single and multifamily homes, offering hope that housing will contribute to economic growth in the fourth quarter.
Groundbreaking jumped 25.5% to a seasonally adjusted annual pace of 1.32 million units, the highest level since August 2007, the Commerce Department said on Thursday. This was the biggest increase since July 1982. Starts increased in all four regions last month.
Consumer Price Index
The Consumer Price Index Jump by 0.4%, in anticipation of the new administration lifting stocks broadly.
Investors betting that Donald Trump will roll back regulations and taxes while pumping money into infrastructure projects have driven the Russell 2000 index of small-capitalization stocks to 11 straight sessions of gains Friday, its longest winning streak since June 2003. The index has risen 10% since Election Day, outpacing the S&P 500?s 2% climb.
Russell 2000 has risen 10% since Election Day, outpacing the S&P 500?s 2% climb as Small companies have been among the biggest winners.
Federal Reserve Board
Look for a rise in the prime rate hike at the December 13-14 FOMC meeting.