On the heels of a much better-than-expected jobs report this morning, investors received another piece
of good news on the U.S. economy a half hour after trading commenced.
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The government reported that 243,000 payrolls were added last month, the consensus forecast had been 125,000. The nation's unemployment rate, which had been expected to have risen from December's estimated level of 8.5% to 8.6%, instead fell further to 8.3%.
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The Conference Board reported that its
Consumer Confidence Index came in at
61.1 for January, down from 64.8 in December, and lower than the average expectation of 68.
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Personal income rose in December for the fourth month in succession, gaining a strong 0.5%.
Personal consumption expenditures showed no increase last month following four straight months of increases.
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The nation's
gross domestic product had advanced by
2.8% in the October-through-December period. That rate of growth was the best of the year; however, it was also a bit shy of the presumptive rate of gain, which had been
targeted at 3.0%.
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Following a report issued earlier this morning showing that orders for durable goods had surged by more than expected last month, and in the wake of earlier and largely supportive metrics on housing starts and existing home sales issued last week, the Commerce Department within the past hour has issued data indicating that
sales of new residences had eased last month.
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This morning, the U.S. Department of Commerce released its latest data on
durable goods orders, and the report was another indication that the U.S. economy continues to improve.
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The Federal Reserve has concluded its latest
Federal Open Market Committee meeting within the hour, acknowledging that it intends to keep
interest rates ``exceptionally low'' at least through late 2014.
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A half-hour into the trading day, the investment community received another encouraging report on the U.S. economy when the National Association of Realtors, the nation’s largest trade association, reported an increase in existing home sales for the month of December.
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