Thursday, November 19, 2009

Market Notes - November 19, 2009

The number of U.S. workers filing new applications for jobless insurance was basically unchanged from the previous week, but the four week moving average of claims dropped to its lowest level in almost a year. The Labor Department reported initial claims for the week ending November 14 to be at 505,000, up slightly from 502,000 in the previous week. Initial claims have dropped significantly from earlier this year, but remain above the 400,000 mark that analysts say would signal payroll growth.

A report on leading economic indicators is due out at 10:00 am ET and is expected to show an increase of 0.4% for October. This would be a slow-down from the prior month, when the index of leading indicators jumped 1% for the sixth gain in a row. Also released at the same time is the Philadelphia Fed Survey.