The Department of Labor reported that initial claims for unemployment benefits increased by 137,000 in the week ended December 5 to 853,000, the highest level since mid-September. The data was much larger than the expected 725,000.
Regarding the continued orders these increased by 230,000 in the week ended November 28, to 5,757,000. The expectation was for a decline to 5,335,000.
Inflation data from the US were also released and Europe is holding a press conference for Christine Lagarde, president of the European Central Bank, following the ECB’s decision to recalibrate its monetary policy instruments.
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