We were so close. Last week’s initial jobless claims report tempted optimistic expectations with a notable decline in new filings to the lowest level since July 2008. It looked like salvation had arrived at long last. But a large chunk of that drop evaporated in today’s update from the Labor Department. Claims rose 26,000 to a seasonally adjusted 436,000 last week. Were we hornswoggled again? Not necessarily, at least not yet.
Daily Archives: December 2, 2010
A STRONG YEAR FOR CONSUMER STOCKS
Betting on consumption has been a winning investment strategy in 2010. The S&P 500’s top sector this year through December 1 is consumer discretionary, posting a 23.4% total return. That’s more than double the broad market’s year-to-date gain, as measured by the S&P 500’s 10.2% rise through yesterday.