Positive economic data across the board this morning began with initial jobless claims for the week ending December 17, which fell from 368,000 to 364,000. This is the lowest level for initial jobless claims since April 2008.
The Thomson Reuters/University of Michigan index of consumer confidence rose to 69.9 from 64.1 at the end of November. As a reference point, this index averaged 89 in the five years leading up to the recession that began in December 2007.
And finally, the Conference Board reported its index of Leading Indicators (LEI) rose 0.5% after a 0.9% October increase. The LEI index is an indication of how well the U.S. economy will perform over the next 3 to 6 months.
On this data U.S. stocks are trading slightly higher as are Treasuries. U.S. Treasuries had tough day on Wednesday, and are struggling to maintain this morning’s gains. Mortgage pricing is better by .125%.
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