Economy
In reply to the discussion: STOCK MARKET WATCH, Thursday, December 15, 2011 [View all]Ghost Dog
(16,881 posts)... Stocks rallied earlier after data on jobless claims and manufacturing signaled a strengthening U.S. economy and Spain sold almost twice as much debt as targeted at an auction. Labor Department figures showed initial jobless claims fell by 19,000 to 366,000 last week, the fewest since May 2008. The median of 47 economists had projected 390,000, according to a Bloomberg News survey.
Two reports showed manufacturing in the New York and Philadelphia regions expanded more than forecast in December. The Federal Reserve Bank of New Yorks general economic index accelerated to the highest level in seven months, to 9.5 from 0.6 in November. Readings higher than zero signal expansion among companies in region, which covers New York, northern New Jersey and southern Connecticut.
The Federal Reserve Bank of Philadelphias general economic index increased to 10.3 in December from 3.6 last month, indicating expansion in the area covering eastern Pennsylvania, southern New Jersey and Delaware.
Investors are trying to get a sense of not only how the economy is performing but also looking at what happens with policy, what happens in Europe, Kevin Caron, a market strategist in Florham Park, New Jersey, at Stifel Nicolaus & Co., said in a telephone interview. His firm has about $108 billion in client assets. You still have some lingering concerns about Europes financial crisis. As the market tries to digest all this, its looking at squaring valuations with all this new information.
/... http://www.businessweek.com/news/2011-12-15/u-s-stocks-gain-as-data-signal-strengthening-american-economy.html
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