Dec 7, 2023
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Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we kick off with a preview of tomorrow’s payrolls number and a check in on seasonality (page 1). We then check in on sector performance year to date, namely the nearly 50% gains of Tech and Communication Services (page 2). We finish with a rundown of the latest household net worth survey from the Federal Reserve (page 3 and 4).
See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!
Dec 7, 2023
This morning’s release of Jobless claims came right in line with estimates of 220K and is only marginally higher than last week’s upwardly revised number of 219K. On a four-week moving average basis, claims have totaled 220.75K, matching the level from three weeks ago.
As we noted last week, before seasonal adjustment, claims usually increase throughout the final months of the year, but the Thanksgiving holiday likely caused an unusual drop off in claims last week. Claims were back up this week with an increase to 293.5K which is the highest level since the start of the year. Versus comparable weeks of the year, that is the highest reading since 2018.
Over the past few months, continuing claims have more consistently been grinding higher with last week marking the highest level in two years. The latest reading showed a modest pivot lower in continuing claims down to 1.861 million and matches the April high of 1.861 million.
Dec 6, 2023
Log-in here if you’re a member with access to the Closer.
Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we start out with a look at the moves in WTI and gasoline (page 1) followed by a review of the latest EIA data (page 2). We then check in on the National Bank of Poland and Bank of Canada (page 3) before finishing with a look into the latest job postings data (pages 4 and 5).
See today’s full post-market Closer and everything else Bespoke publishes by starting a 14-day trial to Bespoke Institutional today!
