The number of U.S. workers filing new claims for unemployment benefits unexpectedly dropped last week, pointing to continued improvement in the jobs market as the economy picks up speed.
The S&P 500 and the Dow Jones Industrial average are up over 1.5%. The rise was the result of the lower unemployment claims and higher than expected retail sales reports from such companies as Target, Macy’s, and Heinz (Heinz 3Q Profit Up 20% on Strength in North America).
We still have a long way to go but at last there is light at the end of this horrible recession.
Coast Contact 