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Continuing Jobless Claims Continue To Beat, Manufacturing Continues To Accelerate

Jobless Claims Continue To Shrink, Manufacturing Continues To Beat
Flywheel from old factory

Correction – we initially reported initial jobless claims this morning beat estimates, when in fact they missed consensus estimates by 35k. It was continuing jobless claims that beat estimates.

Jobless claims continued their choppy recovery in the accelerating Trump economy based on numbers reported this morning. Manufacturing in the Philadelphia area showed strong growth, beating estimates.

Existing home sales rocketed to a 15 year high as American continue to leave Democrat-controlled cities for the freedom and safety offered in the suburbs.

Financial markets are soft this morning after the recent run-up over vaccine approvals.

Continuing Jobless Claims (Nov 6) printed at 6.372M vs 6.47M consensus estimate.

Philadelphia Fed Manufacturing Survey (Nov) printed at 26.3 vs 22 estimate.

Initial Jobless Claims (Nov 13) printed at 742k vs 707k estimate.

Initial Jobless Claims 4-week average (Nov 13) printed at 742k.

Existing Home Sales (MoM) (Oct) printed at 6.85M vs 6.45M estimate.

Existing Home Sales Change (MoM) (Oct) printed at 4.3% vs -1.2% estimate.

EIA Natural Gas Storage Change (Nov 13) printed at 31B vs 15B estimate.

Kansas Fed Manufacturing Activity (Nov) printed at (released later today).

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