Thursday brought Unemployment Claims data. In the week ending November 4, the advance figure for seasonally adjusted initial claims was 239,000, an increase of 10,000 from the previous week's unrevised level of 229,000. The 4-week moving average was 231,250, a decrease of 1,250 from the previous week's unrevised average of 232,500. This is the lowest level for this average since March 31, 1973 when it was 227,750. Claims taking procedures continue to be severely disrupted in the Virgin Islands. The ability to take claims has improved in Puerto Rico and they are now processing backlogged claims.
Friday's session was marked by Consumer Sentiment figures. Consumer sentiment in U.S. unexpectedly fell by the most in a year amid expectations that inflation and interest rates will rise, according to a University of Michigan report Friday. Sentiment index dropped to 97.8 (est. 100.8) from 100.7. Current conditions gauge, which measures Americans’ perceptions of their finances, fell to 113.6 from 116.5. Expectations measure decreased to 87.6 from 90.5.
This week markets will be looking at:
PPI (Tuesday 14:30)
CPI (Wednesday 14:30)
Retail Sales (Wednesday 14:30)
Unemployment Claims (Thursday 14:30)
Philly Fed Manufacturing Index (Thursday 14:30)
Industrial Production (Thursday 15:15)
Building Permits/Housing Starts (Friday 14:30)
