Nose Bleed Levels?
The Conference Board’s measure of consumer confidence hit 129.5 in November its highest level in nearly 17 years. That is much stronger than expected. The index takes into account Americans’ views of current economic conditions and their expectations for the next six months.
For the week ending November 18, new claims for unemployment insurance dropped by 13,000 to 239,000.
The less volatile four-week average rose slightly to 239,750. Jobless claims have now held below 300,000 for 142 weeks, or nearly three years, the longest such streak since 1970. Analysts say, however, that the levels in fact represent an absolute low, given the increase in the population in the last 47 years. (AFP)
The S&P CoreLogic Case-Shiller home price index rose in September at a 6.2% annual rate.
The Organization for Economic Cooperation and Development updated its gross domestic product growth forecast to 3.6% from 3.5%, supported by policy stimulus and being accompanied by solid employment gains, a moderate upturn in investment, and a pick-up in trade growth. It also noted that the global economy is now growing at its fastest pace since 2010. (LPL)
The S&P 500 is up 3 and the NASDAQ is down 0. The MSCI international index is lower.
Oil is down 10 cents at $57.86 a barrel.
Gold is down $2 at $1298 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.