Good News for the Economy as Jobless Claims Fall Thursday, December 15, 12:08 PM ET
First-time filings for unemployment benefits fell to the lowest level since May 2008 in the week ending December 10.
Initial jobless claims decline by 19,000, to a seasonally adjusted 366,000, compared to economist expectations for an increase in claims.
The Labor Department also reported on the producer price index today.
Wholesale costs to manufacturers rose a seasonally adjusted 0.3% in November, a greater increase than was expected.
Food prices were largely to blame for the increases.
Excluding food and energy costs, the core producer price index rose 0.1%, less than economists expected.
Stocks appear poised for gains Thursday, and the SPDR S&P 500 (AMEX:
SPY) is trading up about .8%.
Gold is trading higher, leading the SPDR Gold Shares (AMEX:
GLD) to trade up .3%, and the iShares Gold Trust (AMEX: IAU) to trade up over .3%.
Crude oil, meanwhile, is trading higher, leading the DB Oil Fund (AMEX:
DBO) to trade up about .6%.
For MarketNewsVideo.com, I'm Sayoko Murase.
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Good News for the Economy as Jobless Claims Fall
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