Jobless Claims Fall, ECB Cuts Rate Thursday, December 8, 12:18 PM ET
The Labor Department reported a decline in weekly initial jobless claims data today, following a couple weeks of gains.
First-time filings for unemployment benefits fell by 23,000 for the week ending December 3, to 381,000.
The decline pushed the four-week moving average of claims lower as well, down 3,000 to 393,500.
Weekly filings were at the lowest level since February, and the four-week moving average was at a level not seen since April.
Economy-watchers are also looking at a European Central Bank decision to cut the central bank's key interest rate to 1% from 1.25%, in an effort to help breath life into the economy.
The U.S. Dollar Bullish Fund (AMEX:UUP) is trading up over .3% on today's news, while the Euro Trust (AMEX:FXE) trades down over .5%.
Gold is trending lower, leading the iShares Gold Trust (AMEX:IAU) to trade down about 1.3%, and the SPDR Gold Shares (AMEX:GLD) down over 1.3% as well.
Crude oil futures are trading at $100 a barrel following a bullish report from Exxon Mobil (NYSE:XOM) on energy demand. The Energy Select Sector SPDR (AMEX:XLF), in which Exxon is the top holding, is trading down 1.8%.
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