Thursday, December 24, 2009
Wall Street gets early jump on Christmas gifts
WALL STREET GETS EARLY JUMP ON CHRISTMAS GIFTS
U.S. stocks climb as weekly jobless claims fell more than expected and
materials companies were boosted by rising metals futures.
INITIAL JOBLESS CLAIMS FALL 28,000 TO 452,000
First-time claims for state unemployment benefits fall a seasonally
adjusted 28,000 to 452,000 in the week ended Dec. 19, hitting the
lowest level since September 2008.
LITTLE IMPROVEMENT SEEN IN JOB MARKET IN 2010
While the economy is likely to grow at a steady but unspectacular 3%
pace in 2010, the prospects for significant job growth are dim and the
unemployment rate could still be in the 10% neighborhood at this time
next year, economists say.
CAPITAL EQUIPMENT ORDERS STRENGTHEN IN NOVEMBER
A big drop in volatile aircraft orders masks a broad-based increase in
demand for other U.S.-made durable goods in November, the Commerce
Department estimates.
DEBT CEILING GETS SHORT-TERM INCREASE IN SENATE
The Senate joins the House in passing a short-term increase in the
U.S. debt limit, allowing the government to borrow for a few more
months.
