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Wednesday, November 25, 2009

Morning Market Report

We had a somewhat monumental piece of economic data today. The weekly first time jobless claims fell below 500,000 for the first time since last September. The most recent number is 466,000. On the other hand, durable good orders fell in October, and last week, mortgage applications fell yet again despite having near all time lows. Oil is trading at $76.08. Gold is at an all time high of $1180 an ounce after India announced it may buy a great deal of Gold. The ten year U.S. Treasury is currently at 3.31%. The yield spread between the two and ten year is steady at 2.58% and the three month t bill is back to paying zero interest after paying a negative rate for a couple days.

The Dow along with the other two indices are about even so far this morning after about a half hour of trading. Markets in the Far East were generally up. The Hang Seng was up .84%, the NIKKEI in Japan was up .43%, and the broader Chinese index was up 2.06%. In Europe, the FTSE in London was up .3% and the DAX in Germany was up .03%.

In currencies, the dollar is mixed. It's up by .57% against the Euro, up .56% against the British Pound but down 1.16% against the Japanese Yen.

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