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Recent Economic Commentary
Brandon Casey, Member Strategies - 12/7/2023
U.S. stocks edged higher at opening on Thursday as markets try to bounce back from another losing session. Both the DJIA and S&P 500 are coming off three-day losing streaks, the longest since October. Investors will now turn their focus to the latest jobs report on Friday.
Looking at economic data today, initial jobless claims increased by 1,000 to 220,000 last week. Initial claims were expected to be at 222,000. Continuing claims edged lower to 1.86 million. Elsewhere, wholesale inventories fell 0.4% in October, more than the 0.2% decline expected.
U.S. Treasury yields are steeper this morning, with the 2-year Treasury yield down 1.9 basis points to 4.59%, the 5-year Treasury yield up 0.6 basis points to 4.13%, and the 10-year Treasury yield up 2.5 basis points to 4.15%. Advance rates are little changed today.