US Unemployment Numbers Buoy Stocks on Christmas Eve
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A typically quiet pre-Christmas trading session opened the way for “Santa Claus Rally” hopefuls with stocks yet again hitting all-time highs, buoyed by new jobs data from the US government. Treasury yields edged lower as the dollar barely budged.
Unemployment numbers from the Trump administration Wednesday, like recent GDP and inflation data, came in more positive than predicted by independent economists. According to the Department of Labor, applications for unemployment benefits fell last week with initial claims decreasing by 10,000 to 214,000. The median forecast in a Bloomberg survey of economists called for 224,000 applications.