The Labor Department’s report showed initial claims for state unemployment benefits last week increased to 778,000 from 748,000 in the prior week. Economists polled by Reuters had forecast 730,000 applications.
“The question is who wins the battle - the vaccines or the rising cases in the short term,” said Christopher Grisanti, chief equity strategist at MAI Capital Management in Ohio. Data also showed U.S. consumer spending, which accounts for more than two-thirds of domestic economic activity, increased solidly in October, but personal income fell.
Hopes of a COVID-19 vaccine following promising trial data from three major drugmakers as well as a smooth White House transition have lifted Wall Street’s main indexes to record highs and set the benchmark S&P 500 on course for its best November ever.
thanks for this news
MAKING
They are going back to opening flats now! No more houses. satire
Is this a buying moment?