After climbing at the start of the session, the U.S stock market remained in range up until the closing bell. Economic data was the major culprit yesterday, as data from the U.S showed a mixed picture.Similar to last week’s increase Initial jobless claims jumped more than expected to 474.00k. The Georgia department said that 72,298 laid-off workers filed initial claims for state unemployment insurance benefits in November, a 2.4% increase from October. Even though the news wasn’t inspiring, it didn’t have much of an effect on the intraday session as the U.S Trade Balance Index showed a slight improvement of -32.90B, compared to a previous-35.70B figure. According to the data, October’s exports were $3.5 billion more than September’s exports, while imports increased just $0.7 billion.
From a technical point of view the major indices continued to trade in range, led higher by consumer Discretionary and Utilities.
Read the full article at dodjit.com
