Durable Goods, Jobless Claims Come In Higher; Personal Income Slightly Below Expectations

The headline number for durable goods beat expectations, coming in at +0.4 percent vs. expectations of -0.5 percent. The core number fell 0.9 percent vs. consensus of a rise of 0.5 percent. Initial jobless claims popped higher for the week of November 22, up 21,000 to 313,000, marking the highest level since the beginning of September. The four-week average rose 6,250 to 294,000, the highest since late September. Personal income grew 0.2 percent in October, matching the advance of 0.2 percent in September, but less than the 0.4 percent increase analysts had forecast. Wages gained 0.3 percent after increasing 0.2 percent the month before. Overall, the market showed a muted reaction, likely due to holiday trade.