As we wrap things up for 2010, we get one of the last spates of econ data this morning…
Jobless Claims were down 3000 to 420,000 in the latest week. The four week average rose slightly to 426k after having fallen for six straight weeks to the lowest levels of jobless claims in two years.
November Spending was up .4% (a decent showing for the Holiday shopping season)
November Incomes rose .3% (much of this gain from increased stock portfolios, not wages)
November Durable Goods orders, ex-airplanes and autos, were very good – up 2.4%. This is the biggest jump in 8 months.
My take is that there’s nothing to write home about for either bulls or bears in any of these numbers. They just are.