It’s been a quiet holiday
shortened week and today looks the same as the markets have opened slightly
higher. Investors will have plenty of economic data to digest before heading
into the holiday weekend and the early releases contain some promising news.
U.S. orders for long-lasting durable goods made a comeback in October to show
its first increase in three months and the number of people who applied for
unemployment claims were lower than expected. Also included in the early
reports were personal income and spending which were in line with expectations. All of these reports point
toward a growing economy and a more than likely increase in interest rates by
the Fed in December. Oil surged yesterday nearly 2.7% to $42.91 per barrel but
is erasing most of those gains in early trading this morning. In spite of
continued high alerts in security and the news of the Russia fighter jet shot
down over Syria, all of the European indices finished the day strong. The
markets are closed tomorrow and are open for a half day on Friday. Have a great
Thanksgiving weekend!
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