Today's Economic Data Highlights

Just claims, wholesale inventories, and the Fed’s balance sheet today...
 
8:30: Unemployment insurance claims….trending down?  Initial claims gave back most of the sharp drop reported for the week ending November 20, but the trend has been toward gradual improvement in recent weeks.  At 431k, the four-week average is at its lowest since early August 2008.  Analysts are looking for another week-to-week decline for the week that ended December 4, and if they get it the average will come down a bit further.  Continuing claims have likewise trended lower—more visibly throughout the year, though with many of those recipients moving into the extended/emergency programs.  Data for these programs have been volatile on a week-to-week basis and, when corrected for estimates of exhaustions of eligibility for these programs, the total number of recipients shows only modest improvement.

For initial claims, median forecast (of 50): 425k, ranging from 394k to 445k; last 436k.
For continuing claims, median forecast (of 16): 4.237 million, ranging from 4.08mm to 4.27mm; last 4.27mm.
 
10:00: Wholesale inventories for Oct…another large increase?  These inventories are goods that are essentially in transit from factories or from the docks to final destinations such as retail outlets and are therefore difficult to forecast.  Analysts are looking for a much more moderate increase than the +1.5% reported for September.
Median forecast (of 35): +0.8%, ranging from +0.3% to +1.4%; last +1.5%.
 
16:30: Federal Reserve balance sheet….Last week showed very little change in the overall size of the Fed’s portfolio as increases in Treasury securities holdings were essentially offset by principal repayments of agencies and MBS.  Over the next seven months, the balance sheet should grow to about $3.9trillion from $2.35trillion currently.

from Goldman's McKevley

Comments

[Tense INDIAN]

is it a bird ...is it a plane...is it a drone ...or is it a flying MULLAH...no its the stock markets....look at it (mini)CRASH

http://money.rediff.com/

[rocker]

I thinks its hellowhopper Ben raining on Primary Dealers to do their deed again. We never even saw the chopper here.  

[Sam Clemons]

I'm gonna go out on a limb and wager that the Fed's Balance sheet has increased.

[papaswamp]

Fitch downgrades Ireland to BBB+

[shushup]

Anyone notice that the NDX and  NQ are just one good trading day away from 2007 highs? Do you think the big tech stocks will stall, pull back or just blat right on through it? If The Bernank, PDs and HFTs have anything to do with it - blast through is the plan.

[Miramanee]

As Jesse Jackson once said on SATURDAY NIGHT LIVE, "The question is moot".

Whether the data represent real figures, or simply trumped-up numbers....moot. 9.8%,9.6%, 8.7%....17% unemployment....moooooooot.

Here are three axioms of our current plight:

1. The gap between rich and poor grows by the day
2. 41+ million Americans on food stamps, and growing by the day
3. A man in the U.S., making $40,000/year, can only live a "normal" life (house, furniture, food, utilities, car) if he employs debt to do so. The minute he borrows---for his home, for his wheels, etc.---he is no longer a free man. His freedom to act, to choose, to live freely...those freedoms have been sold to the credit card company with the lowest rate.