A report today said the jobless claims were falling as new claims for unemployment benefits fell by 22,000 to a seasonally adjusted 432,000 last week. Analysts had expected claims would rise to 460,000 so this is a big news story – at least for this time of the year. The number of workers continuing to seek unemployment benefits fell by 57,000 to 4.9 million. Here is where the market might go today on the SPX – any higher would be a real surprise.
Trading should be relatively quiet as investors await the arrival of 2010 to draw clues about the direction of the markets. Many investors are away for the holidays and trading volume has been light – happy trading for those who are in the market today!
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