Dow lost 7, advancers over decliners better than 3-2 & NAZ also lost 7. The MLP index was flat in the 315s & the REIT index went up 2 to the 334s. Junk bond funds were up a little & Treasuries were higher. Oil was off a tad & gold was slightly higher.
Dow Jones Industrials
Filings for US unemployment benefits fell for a 3rd week in the last 4, showing a resilient labor market. Jobless claims declined 10K to 265K from a 6-month high in the prior period, according to the Labor Dept. The number of applications matched the forecast. Filings have been below 300K for 95 straight weeks, the longest streak since 1970 & a level typical for a healthy labor market. The 4-week average of claims fell to 263K from 264K the prior week. The number continuing to receive jobless benefits climbed 63K to 2.1M, the highest since Sep 10. The unemployment rate among people eligible for benefits held at 1.5%.
Oil prices steadied after a surprise increase in US inventories helped stall an upward trend that has pushed global crude benchmarks to their highest levels since Jul last year. US light crude was down 20¢ at $53.86. Traded volumes were thin with many investors away for year-end holidays. Crude oil benchmarks have made big gains this month since OPEC & other producers agreed to curb production. Data from the American Petroleum Institute (API) late on Wed showed a 4.2M barrel increase in US crude stocks in the latest week. The forecast called for a decline of 2.1M barrels. But the overall trend appeared to be upwards with oil producers committed to agreed output cuts.
U.S. Crude Price Falls on Surprise Supply Rise
Stocks are having another lackluster day. Not much going on & tomorrow looks to be an even slower day.
Dow Jones Industrials
Dow Jones Industrials
Crude Oil Feb 17
| 53.93 | -0.13 | -0.2% |
Gold Futures,Feb-2017
| 1,147.10 | 6.20 | 0.5% |
Filings for US unemployment benefits fell for a 3rd week in the last 4, showing a resilient labor market. Jobless claims declined 10K to 265K from a 6-month high in the prior period, according to the Labor Dept. The number of applications matched the forecast. Filings have been below 300K for 95 straight weeks, the longest streak since 1970 & a level typical for a healthy labor market. The 4-week average of claims fell to 263K from 264K the prior week. The number continuing to receive jobless benefits climbed 63K to 2.1M, the highest since Sep 10. The unemployment rate among people eligible for benefits held at 1.5%.
Oil prices steadied after a surprise increase in US inventories helped stall an upward trend that has pushed global crude benchmarks to their highest levels since Jul last year. US light crude was down 20¢ at $53.86. Traded volumes were thin with many investors away for year-end holidays. Crude oil benchmarks have made big gains this month since OPEC & other producers agreed to curb production. Data from the American Petroleum Institute (API) late on Wed showed a 4.2M barrel increase in US crude stocks in the latest week. The forecast called for a decline of 2.1M barrels. But the overall trend appeared to be upwards with oil producers committed to agreed output cuts.
U.S. Crude Price Falls on Surprise Supply Rise
Stocks are having another lackluster day. Not much going on & tomorrow looks to be an even slower day.
Dow Jones Industrials
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