Wednesday the Dow rose 490 points, blowing through 12,000, on a swing in market sentiment resulting from the coordinated efforts of major central banks around the world, and positive economic data in the U.S.
This morning initial jobless claims jumped back above 400,000 to 402,000 for the week ending November 26. This is the first time in five weeks that the measure has been above 400,000.
With some positive news, the November ISM Manufacturing Index rose more than expected 52.7 from 50.8. Expectations were for a small increase to 51.8. Overall this was a solid national report confirming that orders are still outpacing production.
Keeping with this week’s pattern, Treasury and mortgage bonds are opening weaker, with mortgage prices worse by .25%.
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